VW says it's ready to boost US steel at Chattanooga plant
Times Free Press reported that Volkswagen Group of America says it's committed to increasing its reliance on US steel sources and has a strategy to boost the absolute volume and share of metal that it gets from US mills. David Geanacopoulos, senior executive vice president of public affairs and public policy for Volkswagen Group of America Inc, said “Also, the Chattanooga plant has invested in significant changes to its manufacturing processes that will permit VW to substitute U S made for imported steel.”
Geanacopoulos cited VW's USD 1.9 billion investment for far in Chattanooga, where about 3,500 people work making the Passat midsize sedan, the seven-seat Atlas SUV and a planned five-seat SUV starting next year. VW is investing another USD 340 million for the five-seater.
He said “Our comments vividly demonstrate that neither Volkswagen Group of America's US production, nor its imports, create any sort of national security threat. Quite to the contrary, Volkswagen Group of America's presence in the US contributes to economic security, which ensures national security."
The remarks are included in a prepared statement leading up to a hearing today and Friday in Washington, DC, over potential auto tariffs.
The company, which has a production plant in Chattanooga, said it already primarily sourced its steel inputs of roughly 57,736 metric tons last year from US mills.
Source : Times Free Press