Volkswagen to sell China's Nanjing plant

Recently, according to internal sources, Volkswagen Group has taken another important step in adjusting its business in the Chinese market. Following the announcement of the sale of the Xinjiang factory last week, the Nanjing factory may also face the fate of being sold. It is understood that the Nanjing factory was jointly established by Volkswagen and SAIC Group in 2008. It has a complete vehicle production line and was originally planned to produce 360,000 vehicles per year, mainly producing models such as Volkswagen Passat and Skoda Superb. However, due to the fact that the factory was not fully utilized and the number of vehicles produced was lower than expected, Volkswagen decided to sell the factory. In addition, Volkswagen is also considering divesting more Chinese factories to deal with the problem of overcapacity.