Volkswagen AG Pref (XETR:VOW) is exploring a potential sale of its Valencia battery plant with China’s Gotion after a CEO site visit, even as VOW trims fixed costs and plans further cuts to fix production inefficiencies and bolster cash conversion and margins for its core brands.
Previous Week Recap
- Volkswagen AG Pref Takeover Talk With Gotion: Volkswagen AG Pref (VOW) in talks with China’s Gotion on possible takeover of VW’s Valencia battery plant; Gotion CEO inspected the site. VW declined to comment.
- Volkswagen AG Pref Cuts Costs, Improves Cash: Volkswagen AG Pref (VOW) cut fixed costs to tackle production inefficiencies, boosting cash conversion and margins for core brands; further cost cuts planned to improve operational performance.
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