Europe’s largest carmaker hurt by greater competition from rivals in China
Agreement to save €4bn includes factory capacity cuts and 35,000 job losses by 2030 ‘in socially responsible’ way
German carmaker’s majority owner is taking a hardline in support of cost cuts
Management and unions at carmaker will hold a fifth round of talks on Monday over planned factory closures and job cuts
IG Metall chair Christiane Benner addresses thousands of VW workers striking over planned closure of several plants
Union IG Metall said 66,000 workers at nine factories, including the Wolfsburg headquarters, had walked out
German carmaker has long resisted pressure from investors and human rights groups to exit the area
German carmaker’s writedowns done in phases over past 11 months
Executives reject union proposal that would rule out factory closures in the country
Pablo Di Si leaves carmaker ‘at own request’ to be replaced by Porsche veteran amid push to regain US market share
Threat of tariffs and subsidy shake-up come as German carmaker faces weak American sales of its all-electric SUV
Daniela Cavallo views clash as existential fight for carmaking in Europe’s biggest economy
Volkswagen and its EU rivals have allowed China to steal a march in EVs
Europe’s largest carmaker is at war with workers and politicians as it tries to navigate a painful EV transition
Investors are understandably concerned despite the carmaker’s mooted job cuts and plant closures
Europe’s largest carmaker highlights ‘urgent need’ for cost reductions and efficiency gains
Europe’s largest carmaker tells works council it would slash pay by 10%
The carmaker must overcome internal resistance to changes necessary to boost competitiveness
Expulsion of chief marketing officer is latest blow to German carmaker in world’s largest auto market
Carmaker’s lending arm hit with £5.4mn penalty and agrees to pay £21.5mn to 110,000 borrowers
Profit warnings have come from a sector facing weak sales at home, intense competition in China and slowing EV demand
The lower guidance comes the carmaker looks to close plants in Germany for the first time in its 87-year history
Calls mount for Volkswagen chief to focus on restructuring as management tries to close German factories and cut jobs
Long considered a symbol of Germany’s industrial power, the company is now reckoning with a difficult transition to electric vehicles
Move follows FT report on an audit clearing the carmaker of forced labour at its plant in western China
