“Volkswagen chief executive #OliverBlume had less than 48 hours to celebrate the lucrative sale of the #carmaker’s €10bn marine #engines division before the deal was overshadowed by his plans to #axe up to 100,000 jobs.
The sale of a majority stake in #Everllence and the scale of the cost-cutting plans revealed last week underline the urgency at #Volkswagen as it fights fierce competition from insurgent #Chinese brands and adapts to the shift to #ElectricVehicles.”
This is a business decision not to go electric. #VW had the technology almost 6 decades ago. Maximise profit, then loose.
#Germany / #engineering / #electrification / #ElectricCars / #EV /