TMTPOST -- Volkswagen's group CEO announced on Wednesday that the company will undergo a 'right-sizing' process in China as competition escalates in the country’s booming auto market, particularly with the rise of electric vehicle sales in recent years. "We have significant capacity in China from the past, and the process here will be similar to what we implemented in Germany for right-sizing," Oliver Blume told reporters at the Shanghai auto show. Blume referred to a deal made with unions late last year, which saw Volkswagen reduce its capacity by approximately 700,000 units at its German facilities and cut 35,000 jobs to lower costs.