Volkswagen's chief executive welcomed a deal to slash jobs and reduce production capacity in Germany without the need to close factories, but the car giant's shares fell heavily on Monday.

No plant closures, but VW Group manufacturing capacity will be cut by 730k across German plants and 35k jobs to go.

Volkswagen announced sweeping changes to its German operations, including more than 35,000 future job cuts and capacity reductions in a last-gasp deal between Europe's top carmaker and unions on Friday to avert mass strikes.

Volkswagen on Friday said it had agreed with unions to cut more than 35,000 jobs at its German sites by 2030 in a socially responsible manner, which would help achieve more than 15 billion euros ($15.

Former Volkswagen Group chief executive Martin Winterkorn has accused the judge leading a criminal trial into the 77-year-old's alleged role in the diesel emissions scandal of bias, dpa learnt on Monday.

FRANKFURT, Germany — Volkswagen and its employee representatives said Friday they have reached a wage deal for 120,000 German workers that avoids plant closings and bars involuntary layoffs ...

Volkswagen’s troubles extend beyond its factories. The strikes come at a time of broader economic and political uncertainty in Germany. Chancellor Olaf Scholz, facing declining poll numbers ahead of a snap election, has publicly urged Volkswagen to avoid factory closures, adding political pressure to an already volatile situation.

A new Bloomberg report cites that Volkswagen may in fact be closing in on a deal to keep its factories in Germany open.

IG Metall union leader Christiane Benner has called for a determined industrial policy at a European level to combat competition from China and the United States. "Europe and its industry need to become more independent from China and the USA,

Despite making significant cost cuts, VW will not sell any of its German factories

Honda’s potential acquisition of Nissan could help the two Japanese brands improve their competitive stance against China’s BYD in the global car market. Struggling individually, Honda and Nissan sold 3.