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VW Scraps Advanced Factory Plan in Blow to Made in Germany

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Transportation VW Scraps Advanced Factory Plan as Earnings Squeeze Deepens Volkswagen AG is scrapping a major advanced-manufacturing project at its sprawling headquarter as falling profits force Europe’s biggest carmaker to rethink investment across its German factories. VW won’t implement its so-called Gamechanger manufacturing concept “in the form previously planned” in Wolfsburg because of the company’s strained finances, it said Wednesday. Work will continue on its next-generation...

Transportation VW Scraps Advanced Factory Plan as Earnings Squeeze Deepens Volkswagen AG is scrapping a major advanced-manufacturing project at its sprawling headquarter as falling profits force Europe’s biggest carmaker to rethink investment across its German factories. VW won’t implement its so-called Gamechanger manufacturing concept “in the form previously planned” in Wolfsburg because of the company’s strained finances, it said Wednesday. Work will continue on its next-generation electric platform and models including the ID. Roc, a planned electric SUV.
VW Scraps Advanced Factory Plan (ORG) Germany Transportation VW Scraps Advanced Factory Plan (ORG) Deepens Volkswagen AG (ORG) Europe (LOCATION) German (ORG) VW (ORG) Gamechanger (ORG) Wolfsburg (ORG) Roc (LOCATION)
Originally published by Bloomberg Markets Read original →