Volkswagen has suspended development of the all-electric Golf at its Wolfsburg headquarters due to financial pressures, marking a major cost-cutting step. CEO Thomas Schaefer acknowledged the difficulty of this decision, and emphasized the need for car manufacturers to reduce expenses. Volkswagen plans to cut 100,000 jobs and potentially close up to four German plants, facing a €300m shortfall in Wolfsburg. Tensions with the IG Metall union rise, and the I.D. The Golf's development freeze highlights the company's strained financial position amid efforts to compete with Chinese EV rivals.

Volkswagen has suspended development of the all-electric Golf at its Wolfsburg headquarters due to financial pressures, marking a major cost-cutting step. CEO Thomas Schaefer acknowledged the difficulty of this decision, and emphasized the need for car manufacturers to reduce expenses. Volkswagen plans to cut 100,000 jobs and potentially close up to four German plants, facing a €300m shortfall in Wolfsburg. Tensions with the IG Metall union rise, and the I.D. The Golf's development freeze highlights the company's strained financial position amid efforts to compete with Chinese EV rivals.