Volkswagen and JV partner SAIC plan to close China plant

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What's happening with Volkswagen in China? Big changes are coming! Volkswagen and its Chinese partner, SAIC, are planning to shut down at least one of their plants due to falling demand for combustion engine cars. According to Bloomberg, the first plant on the chopping block could be the one in Nanjing, which produces VW Passat and Skoda models, and this could happen as soon as next year! Volkswagen has been the top-selling carmaker in China for a long time, but its market share is dropping fast. The shift toward electric vehicles is reshaping the market, and companies like BYD and Tesla are racing ahead. To stay competitive, VW is teaming up with partners like Xpeng to launch new models that can capture attention in this evolving landscape. This potential plant closure isn’t a surprise, as earlier this year, SAIC was already planning to cut 10% of jobs at the joint venture. Will Volkswagen’s new strategy help them regain ground in China’s fast-paced EV market? Stay tuned to see how this unfolds!