Volkswagen disposes ownership stakes in facilities in Xinjiang, NY Times says

Volkswagen (VWAGY) is disposing its ownership stakes in facilities in northwestern China’s Xinjiang region, including a joint venture assembly plant in Urumqi as well as two additional test tracks int he region, Keith Bradsher of The New York Times reports. The U.S. and a growing number of European countries bar imports from Xinjiang due to evidence of forced labor. Additionally, the plant was designed to make gasoline-powered cars and China has swiftly adopted electric vehicles over the last four years.