According to RTTNews, German automaker Volkswagen AG (VLKAF.PK, VOW.DE) unveiled its “Future Plan 2030” transformation program, comprising twelve initiatives designed to create a more resilient and competitive operation amid challenging market conditions.
The plan includes a group‑wide workforce reduction of approximately 50,000 jobs, encompassing managerial positions.
In response to changing market dynamics, Volkswagen aims to achieve annual vehicle sales of nine million units and an operating margin of 9 % by 2030, translating to an operating profit of roughly €31 billion.
The firm forecasts overhead costs of €37 billion and plans to allocate €135 billion toward capital expenditures and research and development over the 2027‑2031 period.
Additionally, Volkswagen will commit a multi‑billion‑euro investment over the coming years to enhance the appeal, strength, and competitiveness of its iconic brands.
By 2035, Volkswagen Group intends to cut its model portfolio by roughly 50 % and reduce product‑line complexity by about 75 %.
Separately, Volkswagen AG announced that Erika Rasch will join the Group Board of Management on October 1, 2026, and assume the role of Labor Director, overseeing human resources.
Moreover, Marianne Heiß has been appointed by court order to the Supervisory Board of Volkswagen AG, effective immediately, and will serve until the next annual general meeting.
Also Read
- Houthis launch new offensive in Taiz, causing fresh displacement
- Charles Perrottet denies asking brother as premier to appoint cabinet minister, Icac hears
- Three crucial questions facing Farage at Reform conference
- Oxford Industries Posts Higher Q2 Profit on Tariff Refunds Despite Revenue Dip; Lowers Full-Year Guidance
