Chinese automakers aim to acquire Volkswagen factories in Europe, according to Reuters.

Chinese automakers are interested in acquiring German car factories, particularly those belonging to Volkswagen. The primary objective of these investments is to strengthen their influence in the German automotive industry.

This information comes from RBK-Ukraine citing Reuters.

Establishing local production will also enable the Chinese to circumvent the high import tariffs on electric vehicles imposed by the EU.

While private companies or joint ventures can submit bids to purchase the factories, the deals will hinge on the relations between the governments of both countries. The Chinese are ready to greenlight investments, which cannot yet be said for the Germans.

Moreover, Chinese firms are concerned about how labor unions will react to the acquisitions. In Osnabrück, for instance, it has been stated that they are open to working with the Chinese, but only under Volkswagen's standards.

Previously, it was reported that Volkswagen intended to close several factories in Germany but faced resistance from workers. The parties reached an agreement that production at the "Glass Factory" in Dresden, which produces the ID.3, will cease in 2025. In 2027, the assembly line at the Osnabrück plant, which manufactures the T-Roc Cabrio, will be halted. Sources indicate that Volkswagen would not oppose selling the latter to the Chinese.

Experts have calculated that selling the factories may be more cost-effective for Volkswagen than shutting them down. The corporation could receive between 100 to 300 million euros for each facility.