Volkswagen AG CEO Oliver Blume, in an interview published on Sunday, stated that the German automotive sector could benefit from adopting China's methodical and well-structured industrial planning approach. This comes as the automaker is undergoing a significant restructuring effort to maintain its competitive edge.
"The Chinese approach is highly systematic... with clear priorities and a rationally designed overall framework," Blume remarked during the interview.
"We have experienced firsthand in China the impressive level of execution and the strong willingness to implement plans on the ground," he said. "It is necessary for us to look beyond our own perspective and consider external models. There is much we can learn from China's development model."
Blume also highlighted the intense competition Volkswagen AG faces in the Chinese market, noting the presence of "over 150 competitors with a very strong momentum for innovation." He reiterated in the discussion that, as part of its ongoing transformation, Volkswagen AG plans to reduce its workforce in Germany by 50,000 positions by 2030.
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