Chery plans to acquire Volkswagen's German plant

Recently, Chery is in in-depth negotiations with Volkswagen Group on the acquisition of its factory in Germany. If the deal is reached, it will mark the first time that a Chinese automaker has achieved localized production in the core area of the German automotive industry. This move will help Chery bypass EU tariff barriers, accelerate its globalization strategy, and ease Volkswagen's transformation pressure.