FRANKFURT --Volkswagen is talking to cheaper Chinese steelmakers as it tries to cut the costs of producing cars despite rising steel prices, its purchasing head said in an interview to be published on Saturday.
In the interview with German newspaper Frankfurter Allgemeine, Francisco Javier Garcia Sanz said: "We think very seriously about taking steel from China. The talks with Chinese steelmakers in this regard are already underway."
Volkswagen is also thinking about pooling its own steel procurement and that of its suppliers to improve its negotiating position against steelmakers such as ThyssenKrupp and Arcelor, Sanz was quoted as saying.
