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VW’s China Presence Key to Global Ambitions, Outgoing Boss Says

  • Stephan Wollenstein stepping down as automaker’s China CEO
  • Competition from Chinese electric-car rivals is intensifying
Stephan Wollenstein
Stephan WollensteinSource: Volkswagen AG
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Volkswagen AG must maintain its focus on China to continue being one of the world’s leading automakers -- no matter who its chief executive is -- according to the person who’s led the company’s operations in the nation since 2019.   

Stephan Wollenstein, who first came to the country in 2004 and will step down as China CEO at the end of this month, said he’s witnessed a “fundamental paradigm shift” in the auto industry, which has forced global carmakers including VW to focus on China, now the world’s biggest auto market.