VW has been a global powerhouse for decades, but the German manufacturer is struggling with the shift to electric cars.
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Tesla and China Risk Leaving Volkswagen on a Road to Nowhere
Automotive powerhouse is under pressure to step up its electric-vehicle strategy, and fast.
Shortly after taking the most important job in German industry, Volkswagen AG Chief Executive Officer Oliver Blume got some bad news.
A top executive had been dispatched to China to review the competitive landscape and his assessment was grim. At the company’s headquarters in Wolfsburg — a sprawling factory complex the size of Monaco — he told his new boss that Europe’s largest carmaker was losing the electric-vehicle race in its most important market and had no prospect of catching up on its own.