Volkswagen to make ‘massive’ investment in US in bid to avoid tariffs

CEO of Europe's largest industrial group says he has been in direct talks with Donald Trump's administration

Volkswagen, Europe's largest industrial group, has said it will make a massive" investment in the US. The group, which includes Porsche, revealed it has been in direct talks with Donald Trump's administration as it faces damaging tariffs.

Oliver Blume, who heads the group, said the talks were constructive" and fair", in an interview that suggests the company, whose market capital is 44bn, is not willing to leave tariff negotiations to Brussels alone.