Volkswagen is weighing whether to close factories in Germany for the first time in its 87-year history as it moves to deepen cost cuts amid rising competition from China’s electric vehicle makers.

Wage reductions and freezes spark worker outrage. In addition to the layoffs, Volkswagen plans to cut salaries across the board by at least 10%, with a pay freeze scheduled for both 2025 and 2026.

Volkswagen’s shift in strategy comes amid a troubling performance dip in China, its largest market, where vehicle deliveries fell by 7% in the first half of the year compared to 2023.

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BERLIN (Reuters) – Volkswagen said on Monday it was looking at locations for planned battery cell plants in Spain and eastern Europe and the exact sites for its third and fourth gigafactories ...

Volkswagen CEO Oliver Bloom decried the German manufacturing industry as his company said it was considering plant closures. Volkswagen considers first German factory closure in 87-year history ...

Volkswagen's half-year results indicate it will not achieve its target for 10 billion euros ($11 billion) in cost savings by 2026, the company said. The discussion around closures and layoffs is ...

If built, Audi's new factory would likely be in the southern U.S. and cost some $4.6 billion to construct. What could be ...

Volkswagen is contemplating drastic measures, including factory closures and ending job security agreements, as it faces mounting competition from Chinese EVs. Deals of the Week In the know quiz ...

Volkswagen is weighing whether to close factories in Germany for the first time in its 87-year history as it moves to deepen cost cuts amid rising competition from China’s electric vehicle makers.