According to a new report from Reuters, Volkswagen is considering shutting down plants in Germany for the first time ever. The new report released on Sept. 2 notes that VW points to a vehicle plant and component factory being obsolete.
The brand plans to host a works council Sept. 4 to discuss the potential closure. The brand currently employs around 680,000 staff members worldwide.
VW will be the first of the conglomerate’s brands to undergo cost-cutting in an effort to save over $11 billion by 2026 across all brands. Reuters notes the transition to electric cars as the main driving factor behind the cost-cutting.
Read the full report from Reuters here.
