Volkswagen controlling families call for faster overhaul to fend off Chinese rivals

Clouds gather over the Zwickau Volkswagen Plant on July 9, 2026 at the Zwickau, eastern Germany. Volkswagen workers staged protests nationwide on July 9 as unions warned of "major conflict" if the struggling German car giant pushes ahead with what could be the global auto industry's biggest restructuring.- | Afp | Getty ImagesVolkswagen's top investor and controlling family shareholders on Friday issued their clearest message yet to management as the German auto giant weighs the prospect of what could be the most radical overhaul in the firm's 89-year history. Europe's biggest carmaker has confirmed that it is looking to cut up to 100,000 jobs, twice as many as previously stated, as it seeks to counter a profit slump amid billions of euros in tariff costs and intensifying competition from Chinese car brands."The Volkswagen Group is at a historic crossroads," Hans Dieter Pötsch, chairman of the board of management of Porsche SE, said in a statement. "The decisions that Volkswagen makes now will determine its future. For the sake of the company and its sustainable competitiveness, everyone must now step up and take responsibility." Pötsch warned that the longer decisions are delayed,...