Volkswagen, a German economic icon, plans major cuts amid crisis, facing competition from Chinese EV makers.

Volkswagen, a symbol of Germany's post-war recovery, faces major economic challenges. Originally commissioned by Hitler, the Beetle became a global icon, followed by successful models like the Golf and T1 Bus. Now, the company is considering closing plants, cutting jobs, and reducing pay to save €4bn, partly due to losing ground to Chinese electric vehicle makers. This crisis highlights the emotional and economic importance of VW to Germany.

November 10, 2024
4 Articles