VW Warns Factory Closures May Extend Longer Than Three Weeks
- CEO tells staff ‘drastic measures’ needed to protect liquidity
- Carmaker ups estimate for shutdown issued only on Tuesday
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Volkswagen AG said a two- to three-week factory closure put in place this week may not be sufficient, and told workers that drastic steps will be needed to protect liquidity as government lockdowns to fight the coronavirus make it impossible to do business as normal.