VW Slashes Workforce Amid Declining Competitiveness
Volkswagen is implementing a cost-cutting scheme that includes staff reductions due to high costs and low productivity, making the brand no longer competitive. Meanwhile, battery prices for electric vehicles (EVs) are declining, primarily due to lower raw material costs, potentially making EVs more affordable. Subaru is raising wages for its employees following the United Auto Workers' strike, and Italy is discussing joint investments with Saudi Arabia in various sectors, including automotive and oil & gas.