Also some 50,000 more employees and half the product line-up.
From AugoBlog, September 2:
Volkswagen faces a historic crisis with proposed plans to shutter four domestic manufacturing plants and slash thousands of jobs to drastically reduce costs.
Volkswagen Group is officially in panic mode. According to leaked supervisory board documents, management is quietly proposing the unthinkable by completely shutting down four major German manufacturing plants between the years 2031 and 2034. Emden, Zwickau, Hanover, and Audi Neckarsulm are all on the chopping block as the automaker scrambles to implement massive cost cuts across its sprawling and highly complex global empire to stay alive.
The timing could not be more critical for the brand. CEO Oliver Blume is marching into a highly contentious September 4 supervisory board meeting determined to ram through these radical reductions. With profit margins sitting at a miserable 4.2 percent and cheap Chinese EVs flooding the market, these domestic facilities are literally fighting for survival against brutal economic headwinds....
....MUCH MORE
The article links to one Reuters story, here's another, September 3:
Main points of Volkswagen's restructuring plan
BERLIN, September 3 - Volkswagen AG's supervisory board agreed to a comprehensive restructuring plan dubbed "Future Plan 2030" which it said was essential to restore competitiveness and secure the group for the future.Here are the main details of the plan outlined by the group, which has been struggling in the face of slumping demand and increasing competition from China.
JOB CUTS
As part of the plan, the group says it will need to cut a further 50,000 jobs, including management positions, essentially doubling current layoffs across the group.
PLANT RESTRUCTURING AND EXCESS CAPACITY
VW says it cannot guarantee future production allocations for its plants in Emden, Zwickau, Hanover and Neckarsulm from 2031-2034 and alternative uses for the sites are being evaluated.
It says its European factories currently have more than 500,000 units of excess capacity.
PRODUCT OVERHAUL
The group aims to cut its model range by about 50% and reduce complexity by about 75% by 2035, to focus on a smaller number of higher volume models and achieve greater economies of scale. It will tailor platforms, electronics, and driver assistance systems to the needs of both Western and Eastern hemispheres.
FINANCIAL AND EFFICIENCY TARGETS
VW says it aims to sell 9 million vehicles a year and is targeting an operating margin of 9% by 2030, compared with 3.8% in the first half of 2026.
A group-wide efficiency programme will aim to cut costs, simplify procedures and increase productivity.FOCUS ON NORTH AMERICA AND CHINA....