Volkswagen, a German car manufacturer, is planning to eliminate up to 100,000 positions and halt production at several facilities, doubling its previous downsizing targets.

According to reports, CEO Oliver Blume's deepening overhaul involves closing four German factories in the medium term, specifically the Audi site in Neckarsulm and VW plants in Hanover, Zwickau, and Emden.

The company is experiencing a deep transformation as its traditional business model faces intense pressure from agile Chinese electric and hybrid vehicle competitors in Europe.

A spokesperson refused to comment on the internal presentation but referenced severe market stagnation, new tariffs, and intense competition causing billions in annual financial burdens. The cuts expand on an existing EUR 11 billion cost-reduction strategy.