The current situation is serious. The strength of new competitors entering the market is unprecedented. The price pressure is enormous, says Blume in a speech to employees at a staff meeting at the headquarters in Wolfsburg, Germany.
Earlier in the week, nearly 100,000 VW employees went on strike against the downsizing plans, which, in addition to 10 percent wage cuts, propose the closure of several German factories with tens of thousands of employees for the first time.
The VW Group is, among other things, the main owner behind Traton, which has the Södertälje-based truck manufacturer Scania in its portfolio. The vehicle group is also the largest shareholder in the crisis-stricken battery manufacturer Northvolt.
The group also includes a range of well-known car brands, in addition to Volkswagen, including Audi, Porsche, Skoda, and Seat.
