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Industry

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.

Industry

Rivian, Volkswagen expand technology alliance to AI voice assistant

U.S. electric vehicle maker Rivian has expanded its technology cooperation with Germany\'s Volkswagen Group to include an in-car AI voice assistant. Rivian said it will license parts of its self-developed voice assistant technology to Volkswagen, without disclosing fees, contract terms or models. The entry-level ID.EVERY1, due in 2027, is cited as an initial candidate, though installation is not confirmed. The firms set up joint venture RV Tech in November 2024.

Industry

Volkswagen sounds profitability alarm as EV sales growth adds strain

Volkswagen Group is increasing electric vehicle deliveries in Europe but struggling with worsening profitability, hit by lower EV margins than combustion cars, weak China performance, U.S. tariffs and large one-off costs. The group posted a 5.86 billion euro operating loss in the third quarter as revenue fell 6.3 percent. It is pushing a 31.0 billion euro cost-improvement programme and set its full-year operating margin outlook at up to 1 percent.