Reported about 20 hours ago
Volkswagen has announced a $1.5 billion tariff hit that has prompted the company to lower its revenue outlook for the year. Facing potential tariffs from the US, VW CEO Oliver Blume expressed hope for an agreement prior to the August 1 deadline, with plans to possibly increase US production, including building Audi vehicles locally instead of in Germany or Mexico. Currently, VW operates a significant manufacturing facility in Tennessee, which may see expanded production due to the tariffs.
Source: YAHOO