Volkswagen on cost curtail drive with plant closures amid raw material and production challenges
Volkswagen Group, a German public multinational conglomerate manufacturer of passenger and commercial vehicles, is reportedly considering closing one of its large vehicle plants and one component factory in Germany as part of the ongoing cost-cutting drive at its core VW brand.
Cost curtail goal
Through this cost curtail goal, Volkswagen Group aims to save €10 billion ($11.07 billion) by 2026 to save up for electric car manufacturing. Moreover, this move is much needed to streamline the production costs given higher logistics, energy, and labour value.
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