Volkswagen CEO Oliver Blume intends to avoid plant closures as the automaker executes a major performance and cost-cutting program. The company faces mounting pressure to reduce expenses in Germany while navigating heightened competition in the Chinese market.
Blume told Bild am Sonntag that more intelligent solutions exist beyond shutting down facilities. A current cost-cutting initiative in Germany has already reduced average factory costs by 20% over the previous year.
The automaker is pursuing a fundamental realignment of its operations. This strategy includes plans to significantly streamline the company's existing model lineup.