British carmaker: luxury, Crewe-based since 1919
Volkswagen has signalled a major restructuring plan, with reports that the group is weighing further job cuts and plant closures in Germany to cut costs and counter Chinese competition. The board meeting on July 9 will review potential closures of Hanover, Zwickau, Emden, and Neckarsulm, as part of a broader program to reduce costs and boost profitability.
Volkswagen has presented a transformation plan aimed at slimming the group, reducing models by up to half and cutting capacity to about 9 million vehicles annually. The move follows pressure from tariffs, Chinese competition and rising costs, prompting protests at VW sites across Germany as unions push back against potential plant closures and up to 100,000 job cuts.