Reported about 1 month ago
Volkswagen is considering closing its factories in Germany for the first time in its history amid rising competition from Chinese electric vehicle manufacturers and ongoing cost-cutting efforts. The company has announced it cannot rule out the closure of its plants and is also seeking to terminate employment protection agreements with labor unions. This decision comes as VW struggles with market share losses, particularly in China, where it has faced increased competition from local brands. Labor representatives have expressed strong opposition to the plan, emphasizing the potential threat to jobs and the company's integrity.
Source: YAHOO