By David Sachs
Volkswagen shares rose Wednesday after a review of practices at a jointly owned site in China found no evidence of human-rights violations.
At 1121 GMT, shares in the German car company were up 3.2% at EUR112.02.
The audit was commissioned by Volkswagen and performed by a Shenzhen law firm with Loehning, a German human-rights consultancy. It included document checks, staff interviews and inspections at a plant co-owned by Volkswagen and SAIC Motor in Xinjiang, Volkswagen said. The audit found no violations of forced-labor or child-labor regulations according to United Nations standards.
The findings could open the door for investors who were previously unable to invest in Volkswagen, Citi analysts said in a note.
“We think this could reverse a significant proportion of the VW underperformance since July 2022,” the analysts said.
Write to David Sachs at [email protected]
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