| VW to locate new multi-brand plant in Turkey, after lobbying by major shareholder State of Qatar
Geo politics and automotive businesses may not be the right combination for success but if your major shareholder pushes for it there is very little you can do.
VW Group are locating their new plant in Turkey as against Bulgaria as per the decision taken at their recently held Board meeting. Quote:
The Volkswagen Group has been trying for months to reach a decision regarding the location of its new multi-brand plant planned for Europe.
From the beginning, the automotive giant said the location of the plant would be somewhere in southeastern Europe, and most recently Turkey and Bulgaria were shortlisted as favorites. In the end, it appears that Turkey got the upper hand on its northwestern neighbor.
The decision may come as a surprise to some people, given that Bulgaria is a member of the European Union while Turkey is not. In an interesting turn of events, the State of Qatar had a decisive influence on the matter. The Middle Eastern nation is a major VW Group shareholder, owning 14.6 percent of the company and 17.0 percent of voting rights through its Qatar Holding company.
| Source | 
13th July 2019, 04:13
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