Volkswagen CEO Thomas Schäfer reported some pretty tough times ahead for German car manufacturer. Based on carhe suggests that it’s “all at stake” in an online chat Address this week, where he also told more than 2,000 senior managers during the meeting that “the roof is on.” fire.”
Many problems seem to stem from Volkswagen’s venture into the EV . space while keeping core internal combustion model. 53 year old CEO is said to have called for an immediate spending freeze because “We are keeping costs too high in many areas.”
car report that chafer tell the attendees that the next few weeks and months will be “very difficult” for VW, and call for on managers to create “small wins”. All of this information is reported to come from sources with information on the minutes of the meeting. In a combined move value cut and streamline operations, Shäfer apparently said he planned to introduce a new series of “performance programs” over the next three years that aim to save VW 10 billion euros – about $11.2 billion.
Much of this stems from the fact that Volkswagen is currently investing heavily in Electric vehicle technology and production infrastructure. Only me, That would be a lot of cash, but you have to consider that’s only half the story. The automaker is still developing an internal combustion engine vehicles to meet increasingly stringent safety and emissions standards.
in the appperfect sterrible scenario, all of this is happening as VW deals with a decline in sales in its biggest market, China. The automaker has been forced to reduce the prices of more profitable vehicles to stay competitive in the face of China’s strong domestic competition. But sales help is on the road. car reported that over the next few months, electricity trading VW ID. 7 sedans will start in Europe. It also plans to reveal its next generation ICE Tiguan And Passat models and a new Atlas has just hit the market.
