VIENNA – Volkswagen AG has decided against producing its low-cost Up! Minicar at its Skoda Auto a.s. unit in the Czech Republic. Skoda’s Vrchlabi plant, which builds two Octavia generations, the first-generation Octavia Tour and second-generation Octavia, was considered to be the most likely production location for the Up! Volkswagen says the risk of possible currency swings is the reason for the decision. The strong Czech koruna currently hurts profitability of Skoda’s exports. ...
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