CEO addressed 10,000 employees at a Wolfsburg works meeting on Tuesday, revealing a significant crisis. Reports indicate up to 50,000 jobs are at risk across the company, with Blume stating that half of these cuts could hit .
Appearing on the ZIB2 news program, VDA representative Simon Schütz noted that while the German auto industry remains profitable, the nation is losing its competitive edge. High energy prices, taxes, and labor costs are driving investments to the US and China.
The situation impacts a broad supply chain, including up to 300 Austrian companies providing parts to Volkswagen. Schütz warned that current location conditions in Germany are preventing essential investments in future technologies needed for long-term growth.