VW to Close at Least Three Plants, Says Works Council

Volkswagen is planning to close at least three of its plants in Germany, according to the company's works council.

The closures are part of a cost-cutting plan announced by VW in March, which aims to save the company €5 billion ($5.4 billion) per year.

The works council said the closures would affect plants in Emden, Hanover, and Zwickau.

The Emden plant, which produces the VW Passat and Arteon models, is expected to close in 2025.

The Hanover plant, which produces the VW Golf and Tiguan models, is expected to close in 2026.

The Zwickau plant, which produces the VW ID.3 and ID.4 electric vehicles, is expected to close in 2028.

The closures will result in the loss of around 10,000 jobs.

VW said it would offer employees affected by the closures a severance package and help them find new jobs.

The company said it was committed to reducing its costs and becoming more competitive.

VW has been facing a number of challenges in recent years, including the diesel emissions scandal and the COVID-19 pandemic.

The company is also investing heavily in electric vehicles and autonomous driving.

The closures are part of VW's effort to become more efficient and profitable.