Topic
volkswagen
Manufacturing Volkswagen Planning to Cut Up to 100,000 Jobs Globally, Twice Previous Target
Volkswagen Group CEO Oliver Blume confirmed the automaker is targeting up to 100,000 job cuts globally, double the previously stated 50,000. The move follows a steep profit decline, falling sales in China and the US, and rising competition from Chinese brands. Talks with unions and potential factory closures in Germany remain under discussion.
Business Volkswagen sells majority stake in Everllence to Bain Capital in €7.4bn deal
Volkswagen has agreed to sell a 75% stake in German engine manufacturer Everllence to private equity firm Bain Capital in a deal valuing the business at €7.4bn ($8.4bn). Volkswagen will retain a 25% minority holding. The transaction is subject to regulatory approvals and expected to close later this year. Everllence, formerly MAN Energy Solutions, supplies marine engines and has growing businesses in carbon capture and industrial decarbonisation.
Regulations & Compliance Presidential Pardon Ends Largest Diesel Tampering Prosecution, Exposing Emissions Compliance Gaps
President Trump pardoned 11 individuals, including diesel mechanics and tuners, who were convicted in one of the largest criminal diesel tampering cases. The pardon, signed on July 3, 2026, closed the case United States v. Diesel Freak LLC, highlighting the ongoing conflict between federal emissions standards and commercial fleet operations.
Manufacturing Volkswagen considers 4 German factory closures, 1 lakh job cuts amid China competition and US tariffs: Report
Volkswagen is considering closing four factories in Germany and increasing job cuts to up to 1,00,000, according to Reuters. The proposals, to be discussed on July 9, are part of a massive restructuring driven by competitive pressure from Chinese automakers and weak demand. More than 45,000 additional jobs could be affected, adding to 50,000 planned layoffs.