The world’s second-largest automaker could get a little bit smaller – at least if CEO Oliver Blume has his way. He’s hoping to convince the Volkswagen supervisory board to approve a downsizing plan it rejected two months ago. But what happens if they say “No”?
Volkswagen’s Supervisory Board overwhelmingly rejected the turnaround plan proposed by Chief Executive Oliver Blume, leaving the CEO scrambling to come up with an alternative to pull the world’s second-largest automaker’s crumbling empire back into shape. More from Headlight.News.
Porsche may be known for speed but when it comes to its plan to go all-electric it’s suddenly decided to slow down a bit. There are still more EVs coming but it’s decided to put more emphasis on hybrids and PHEVs, notably with a new high-end crossover in the works. Headlight.News has more on this costly change of direction.
Facing potentially massive new tariffs on imported autos and auto parts, some manufacturers have begun planning ways to shift production to the U.S. That includes Volkswagen whose CEO said “massive” new investments could be coming – though a new court ruling could short-circuit such plans. More from Headlight.News.