Volkswagen CEO warns factory closure may prolong
Volkswagen Group CEO, Herbert Diess has raised concerns that the Covid-19 coronavirus crisis may prolong, forcing the company to extend the closure of its manufacturing facilities. “Most of our factories are closing for two weeks, in some regions for three. It is likely that these measures will last,” Diess said in a Linkedin post over the weekend.
The plants involve all brands under its wing – Audi, Bentley, Bugatti, Ducati, Lamborghini, Porsche, Seat, Skoda, and of course Volkswagen. All of its plants across Europe are now closed. “The spreading of the virus will not have come to a standstill in several weeks from now. So that we need to be ready, to live with this threat for a long time – until effective medicines or a vaccination are available,” Diess added.
According to Automotive News Europe, the Volkswagen Group is taking measures to secure liquidity, its supply chains, and to continue with strategic projects such as the launch of the ID.3 electric car and the supply of battery cells, Diess explained.
Moving forward, Volkswagen’s facility in Slovakia will extend the suspension of its plants in Bratislava, Martin and Stupava until April 5. The plants were initially closed for two weeks, starting March 17. In view of this, the company said the uncertainties caused by the pandemic meant that it was impossible to give forecasts for this year. It also warned of a steep profit decline for the first quarter of 2020.
Research Volkswagen Cars at
Related Cars for Sale on
Source: Read Full Article