Volkswagen's chief executive welcomed a deal to slash jobs and reduce production capacity in Germany without the need to close factories, but the car giant's shares fell heavily on Monday.

No plant closures, but VW Group manufacturing capacity will be cut by 730k across German plants and 35k jobs to go.

Volkswagen announced sweeping changes to its German operations, including more than 35,000 future job cuts and capacity reductions in a last-gasp deal between Europe's top carmaker and unions on Friday to avert mass strikes.

Volkswagen on Friday said it had agreed with unions to cut more than 35,000 jobs at its German sites by 2030 in a socially responsible manner, which would help achieve more than 15 billion euros ($15.

More than 35,000 jobs will be cut across Germany as Volkswagen trims production capacity by 734,000 units. Production will end at Volkswagen’s Transparent Factory next year, while Golf production is moving to Mexico.

Former Volkswagen Group chief executive Martin Winterkorn has accused the judge leading a criminal trial into the 77-year-old's alleged role in the diesel emissions scandal of bias, dpa learnt on Monday.

FRANKFURT, Germany — Volkswagen and its employee representatives said Friday they have reached a wage deal for 120,000 German workers that avoids plant closings and bars involuntary layoffs ...

Volkswagen’s troubles extend beyond its factories. The strikes come at a time of broader economic and political uncertainty in Germany. Chancellor Olaf Scholz, facing declining poll numbers ahead of a snap election, has publicly urged Volkswagen to avoid factory closures, adding political pressure to an already volatile situation.

Despite making significant cost cuts, VW will not sell any of its German factories

A $54 billion Nissan-Honda group would leapfrog South Korea’s Hyundai to become the world’s third-largest automaker by vehicle sales, behind Japan’s Toyota and Germany’s Volkswagen. The integrated group would also represent a landmark in ...

Nevertheless, it is a reminder again of Germany’s toxic reliance on Russian money. This is hardly a shock. Few countries have embraced Moscow quite so wholeheartedly. Ties between the two were forged during the old Soviet Union then fortified under a succession of naive German leaders after the Berlin Wall was torn down.