Volkswagen’s Four-Plant Shock: Blume’s €30 Billion Cut Puts VW Overhaul on a Harder Track
Volkswagen CEO Oliver Blume is considering closing four plants and slashing investment by about 30 billion euros, Manager Magazin reported Wednesday. Weak output at German sites, a low first-quarter margin, and tariffs costing 5 billion euros a year have intensified cost pressures. VW is also weighing defense-sector use for some sites and China-linked production in Europe.