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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 restructuring plan that will cut model lines by up to half and reduce production capacity to about 9 million vehicles a year. Chief executive Oliver Blume has said the group faces a 20% cost disadvantage to rivals and has proposed a "theoretical" further 50,000 job reductions on top of earlier cuts, prompting union protests and board resistance.
Authorities have identified 21-year-old Abdul Ballout as the suspect who has driven a van into a crowd near Berlin’s Christopher Street Day closing party, then stabbed people; one woman has died and about 29–31 people have been injured. Police have shot and killed Ballout after a manhunt, and investigators have found a video and other material referencing Islamic State on devices linked to him.