Qatar Blocks Transformation of VW Plant From Cars to Weapons

Volkswagen’s plan to convert its struggling Osnabrück plant to weapons production has apparently collapsed under a shareholder veto. As Bild reports, Qatar’s sovereign wealth fund, Qatar Investment Authority, is blocking the decision within VW’s governing bodies. QIA holds around 17% of Volkswagen’s voting rights and has two seats on the supervisory board. It also holds 10.4% of the stock, making it third behind Porsche’s 31.9% and the state of Lower Saxony’s 11.8%.