Vestas warns of winding down production in China, India
Countries interested in hosting the OEMs manufacturing jobs must also provide a local market, says CEO.
BY MAZ PLECHINGER, TRANSLATED BY DANIEL FRANK CHRISTENSEN
At the presentation of the wind turbine maker’s largest quarterly deficit to date, the chief focus was a given matter when Vestas revealed its first-quarter interim report. Lurking behind the loss of EUR 765m were a range of interesting news items, not least the disclosure of the OEM booking an impairment worth EUR 183m on assets such as inventories in China and India resulting from a ”reassessment” of production in those two big countries.
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