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Will Volkswagen complete the sale of its Xinjiang plant by March 31, 2025?
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Resolution / Starting Odds
Yes • 50%
No • 50%
Official press releases from Volkswagen or Shanghai Lingang, and reports from reputable news agencies such as Reuters or Bloomberg
Story
Volkswagen Sells Xinjiang Plant to Shanghai Lingang Amid Investor Pressure
Nov 27, 2024, 09:57 AM
Volkswagen announced plans to sell its operations in China's Xinjiang region, including its plant in Urumqi and a test track in Turpan, ending its presence in the area. The decision, influenced by investor pressure and criticism from human rights activists and rights groups such as IPAC, comes after allegations of human rights abuses in the region, including mass forced labor documented by rights groups. The plant, which had been offering technical services for about 10,000 vehicles per year, will be sold to a subsidiary of state-owned Shanghai Lingang Development Group. The sale was agreed upon on Tuesday, according to sources cited by Reuters.
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Similar markets
Plant repurposed for new industry • 25%
Plant remains in automotive production • 25%
Plant closed down • 25%
Other outcome • 25%
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No • 50%
Yes • 50%
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Yes • 50%
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Close one factory • 25%
Close two factories • 25%
No closures • 25%
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