Flood disaster: Volkswagen shares in the red: only “local disturbances” after the flood – Passat production in the United States is closed | message

As of the end of last week, there are currently “local disruptions only at some supplier locations”, Wolfsburg headquarters said on Monday. Overall, the parts supply network works despite the consequences of the storm. So production is not restricted.

(Volkswagen does not have its own locations in Rhineland-Palatinate and North Rhine-Westphalia, which were particularly badly affected by the floods. In Saxony, which also received heavy rainfall, there are many plants – and suppliers in many others Territories of the Federal Republic The company donated one million euros for immediate and emergency assistance.

Volkswagen announces the end of Passat production in the USA

Volkswagen wants to stop production of its famous mid-range Passat model in the USA. After the 2022 model year, no more Passats will be rolling off the production line at its Chattanooga plant in the state of Tennessee, the company announced Monday. VW (Volkswagen (VW) vz) justified the decision with a change in strategy towards electric cars, requiring a change of location.

Aside from the Jetta, the Passat has long been one of the most important VW models in America, produced in special American editions for decades. But in the meantime the importance has diminished considerably. In the second quarter, only around 6,800 units were delivered. Along with the Atlas and Tiguan SUVs, VW has been actively promoting US customers’ preference for large and heavy urban SUVs for many years. /hbr/dp/nas

In XETRA trading, VW shares eventually fell 2.87 percent to EUR 201.70.

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