Porsche has ruled out building a factory in China, its largest and most profitable market, despite struggling to ship enough German-made sports cars to meet a surge in Asian demand at the end of last year.
“It is a quality and a premium argument still to produce from Europe for China,” chief executive Oliver Blume told the Financial Times. “Today it doesn’t make any sense [to move production].”
Blume’s position stands in sharp contrast to other premium German brands, including Audi, BMW and Mercedes, that increasingly manufacture cars for the Chinese market locally, often through joint ventures.
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