VW suspends electric Golf work amid cost cuts
Volkswagen has halted development on the all-electric Golf at its Wolfsburg headquarters amid deep financial pressures. The automaker faces a major cost shortfall as it pursues aggressive restructuring plans across its German operations.
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Volkswagen AG suspended development of its all-electric Golf at its Wolfsburg headquarters, cutting costs as a €300 million shortfall hits the flagship facility. The suspension follows the carmaker's largest quarterly loss in a decade, deepening an industrial crisis across Germany. The financial strain tests management's restructuring plans as European automakers face intensifying competition from China-built EVs.
