Volkswagen said it would take a 5.1 billion euro hit over its unit Porsche AG’s delayed EV rollout due to weaker demand, and rising competition from China coupled with higher US tariffs.Europe’s top carmaker Volkswagen is curbing volumes and introducing temporary shutdowns at two of its electric-vehicle plants in Germany, Bloomberg News reported on Thursday.
The German automaker’s Zwickau factory will stop production for a week from October 6 due to weak demand for the Audi Q4 e-tron, the report said, citing a company spokesperson.
The carmaker’s Emden plant has reduced employee hours and is expected to halt production lines for several days, Bloomberg said.
Reuters could not immediately verify the report. Volkswagen did not immediately respond to a request for comment.
Last week, Volkswagen said it would take a 5.1 billion euro ($6 billion) hit over its unit Porsche AG’s delayed EV rollout due to weaker demand, and rising competition from China coupled with higher US tariffs.
