German automaker Volkswagen says it is shutting down

German automaker Volkswagen says it is shutting down

Vakıf Katılım

Germany (AP) — German automaker Volkswagen says it is shutting down most of its European plants for two weeks due to the virus outbreak. CEO Herbert Diess made the announcement at the company's annual news conference. Volkswagen officials are saying that the situation with the outbreak is so uncertain that the company can't given a reliable earnings outlook for this year. The company made 14 billion euros profit last year, an increase of 15%. The company said, however, that its China business was coming back as the number of new cases lessens there and that its ambitious plans to scale up production of electric cars remained on track.

Hibya News Agency