Volkswagen Group’s labor chiefs are not willing to back any more acquisitions or mergers, especially now that they have 12 shiny belt buckles on their logo. They were especially adamant that they didn’t want VW to buy up Malaysian carmaker Proton.
"We already have 12 brands and we first have to stabilize the group," Bernd Osterloh told the Handelsblatt in an interview published on Monday. "Even though further sales and production sites in southeast Asia are important, there is no support from the labor side for a purchase of Proton.”
Osterloh has an important say in VW, as a member of the 20-strong upervisory board, which is divided halfway between shareholder and employee representatives.
Proton makes a number of rebranded cars, especially ones borrowing from Mitsubishi. They’re also the owners of struggling British carmaker Lotus. A VW acquisition of the company was rumored as a way to create an Asian production hub for the German automaker.
We believe that a partnership between the two companies can still happen.
Story via Autonews Europe