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On September 3, 2026, the Volkswagen Group Supervisory Board approved the 2030 Future Plan. According to Huxiu, Volkswagen subsequently launched the largest restructuring in its 89-year history: by 2030, it will cut a cumulative 100,000 jobs, shut down 4 factories in Germany, reduce its on-sale models by about 50%, delegate the authority to define models to its Hefei team, and shift its intelligent driving solutions to purchasing from Chinese suppliers such as XPeng and Horizon Robotics. The report states that the equity profit of Volkswagen's joint ventures in China fell from 2.621 billion euros in 2023 to 184 million euros in the first half of 2026, a decline of more than 90%; in September 2026, its full-year operating margin guidance was lowered from 4.0%–5.5% to a maximum of 1%, and it was removed from the Euro Stoxx 50 index.
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Volkswagen Group Supervisory Board approves 2030 future plan
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Sep 28
Huxiu
Volkswagen's joint-venture profits in China plunge over 90% in two and a half years, launching the largest restructuring in its history with 100,000 layoffs
Volkswagen's equity profit from its Chinese joint ventures fell from €2.621 billion in 2023 to €184 million in the first half of 2026, a decline of more than 90%. New energy vehicles accounted for only 4.5% of its sales in China, far below China's overall penetration rate of 65.2%. Volkswagen subsequently launched the largest restructuring in its 89-year history: cumulative layoffs of 100,000 by 2030, the closure of 4 domestic German plants, a cut of about 50% of models on sale, and the delegation of model definition authority to its Hefei team, with intelligent driving solutions shifting to procurement from Chinese suppliers such as XPeng and Horizon. In September 2026, its full-year operating margin guidance was cut from 4.0%–5.5% to a maximum of 1%, and it was removed from the Euro Stoxx 50 index.