Volkswagen conducts comprehensive restructuring and explores reducing costs without closing factories

Glonghui, July 13 — According to the Associated Press, Volkswagen CEO Oliver Blume stated that Volkswagen is undergoing a comprehensive restructuring and exploring ways to reduce costs without closing factories. Last week, Volkswagen announced that its restructuring plan has entered a new phase, which includes a significant reduction in the number of models on sale. Since the company has not disclosed more cost-cutting measures, there has been some speculation regarding the future of some of its factories in Germany. Blume pointed out that efficiency improvement measures have begun to show results, and just last year, the costs at German factories decreased by an average of 20%.