Volkswagen's controlling family calls for accelerated reforms to fend off competition from Chinese automakers
18 hour ago / Read about 0 minute
Author:小编   

The controlling family shareholders, who are also the largest investors in Volkswagen, sent the clearest signal yet on Friday, as the German automotive giant considers implementing the most significant reforms in its 89-year history. Europe's largest automaker has confirmed plans to cut up to 100,000 jobs, doubling the previously announced target. Currently, Volkswagen is bearing billions of euros in tariff costs while facing intensified competition from Chinese automakers, urgently needing to curb declining profits.

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