Volkswagen has approved a significant transformation plan that includes cutting an additional 50,000 jobs worldwide and reducing its model lineup by half by 2035.

• The plan involves a Group-wide workforce adjustment of approximately 50,000 positions, adding to existing cuts.
• This decision was unanimously approved by the Supervisory Board of the Volkswagen Group.
• By 2035, the company aims to streamline its model portfolio by around 50 percent and reduce offering complexity by about 75 percent.