Comment on German carmaker Volkswagen to exit China's Xinjiang, sell factory
0x815@feddit.org 5 weeks agoI agree in principal with that view, but there was pressure from VW’s top investors (Union Investment, Deka) to clarify the situation in Xinjiang. An audit turned out to be extremely flawed which put further pressure on the management. It’s hard to tell how much this contributed to the decision, but at least some shareholders weren’t indifferent about the situation.
DdCno1@beehaw.org 5 weeks ago
It’s also worth noting that the German state of Lower Saxony is holding a significant portion of the group’s shares (11.8% - but they have 20% of voting rights, granting them a blocking minority). This means that anything the company is doing is always under additional public scrutiny, at least within Germany.