Oliver Blume

Money Moves

Pushed Future Plan 2030 through after a July board rejection

Volkswagen's supervisory board approved a plan to cut 50,000 more jobs, doubling its planned workforce reductions to 100,000 by 2030. Four German plants will phase out their current models between 2031 and 2034, and VW will halve its lineup of roughly 150 models.

Updated 2 hours ago

Money Moves

Extended as VW CEO through 2030, overseeing investment reset and restructuring

Volkswagen cut its long-term investment plan to €160 billion through 2030, down from €165 billion (2025–2029) and €180 billion (2024–2028), remaining one of the largest capital programs in global manufacturing. CEO Oliver Blume called it belt-tightening, citing higher U.S. tariffs on European car imports and intense price competition in China. These pressures have eroded Porsche margins and prompted a partial retreat from VW's most ambitious electric-vehicle targets.

Updated May 10