Too reliant on China? |

“I think it’s still an asset, China will be by far the biggest growth market for the foreseeable future. For autonomous driving, connected cars, electric cars – they will be the main market”

Mar 25, 2022 (WiC 578)

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Hubert Diess, CEO of Volkswagen, admitted to political challenges for the German carmaker in China following Russia’s invasion of Ukraine. VW makes a car sale in China every 9.5 seconds and earns half its annual profits there. In a major Financial Times article Diess disagreed with the idea that VW needs to become less reliant on the Chinese market: “If you are not in China, you have a problem. If you are in China, you have a chance.”

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Too reliant on China?

“I think it’s still an asset, China will be by far the biggest growth market for the foreseeable future. For autonomous driving, connected cars, electric cars – they will be the main market”

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