Volkswagen CEO Herbert Diess Said That The Cost of….

Volkswagen CEO Herbert Diess Said That The Cost of….

Volkswagen CEO Herbert Diess, one of the automotive manufacturers who stopped production due to the coronavirus epidemic, gave information about the aggravating balance sheet.

The CEO of Volkswagen, Herbert Diess, who reported that stopping production due to coronavirus cost them 2 billion euros ($ 2.2 billion) weekly, said that if their outbreak could not be controlled, they might have to dismiss it.

Volkswagen CEO Herbert Diess
Volkswagen CEO Herbert Diess

VW CEO: ‘The weekly cost of the virus is 2 billion euros’ ($ 2.2 billion) 

Volkswagen CEO Herbert Diess said that the cost of stopping production due to coronavirus is 2 billion euros ($ 2.2 billion) per week, so they may have to dismiss if the coronavirus outbreak cannot be controlled.

Volkswagen has 627 thousand employees worldwide. Diess, who made comments to Germany’s ZDF television,
Stating that they could not sell outside of China, he said they were looking for a way to continue production without compromising the employees.

“We have to review production. We have not yet been able to access the production we have in China in any location in Germany,”

Diess said.

“If we can control the (epidemic) like China, Korea or other Asian countries,”

Diess said,

“we can overcome this crisis without having to fire anyone. This requires serious intervention.”

The company halted production in Europe this month due to the epidemic. VW Group brands have 124 factories, 72 of which are in Europe, America, Asia, and Africa. Volkswagen auto group produces almost 40,000 cars daily and 11 million annually, with approximately 627,000 employees.

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