| Mobile Web

Volkswagen halts ID. Golf development after 5.9 billion euro loss shock

Volkswagen has temporarily halted development of its next-generation all-electric ID. Golf as it faces a large loss and pressure to cut costs. Pre-development work at the Wolfsburg plant has been suspended, and the project has fallen within the scope of restructuring. The group posted an operating loss of 5.9 billion euros in the third quarter. Its Future Plan 2030 includes cutting 100,000 jobs worldwide and narrowing its model lineup.