January 24, 2019 / 1:04 PM / a month ago

DAVOS-VW says trade war big concern, in talks to avoid U.S. import tariffs

DAVOS, Switzerland, Jan 24 (Reuters) - Volkswagen Group has a “big concern” over slowing consumer demand in China resulting from the Sino-U.S. trade war, but believes it can still “grow slightly” and there will be a deal between the two countries, its chief executive said on Thursday.

Herbert Diess told the World Economic Forum in Davos that the automaker hopes to avoid U.S. tariffs on car imports and is in dialogue with the U.S. administration over the matter.

Volkswagen will also separate its car software and hardware development processes and add a board member responsible for car software, Diess said. (Reporting by Soyoung Kim in DAVOS, Switzerland, Editing by Mark Trevelyan)

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