For all its talk of radical change, Volkswagen's cost-cutting deal in Germany relies heavily on the automaker's tradition of cooperation between managers and workers, according to details disclosed by company sources.

Chinese officials and automakers are eyeing German factories slated for closure and are particularly interested in Volkswagen's sites , a person with knowledge of Chinese government thinking told Reuters.

A new report claims Chinese carmakers are interested in buying Volkswagen's factories in Germany, but this could be only a pipe dream of a company in distress

Car giant VW to wind down production at 2 factories; China could buy factories for foothold in Germany. Read more at straitstimes.com.

CFO Arno Antlitz, speaking to investors in New York on Tuesday, said that the cost-cutting deal struck with unions last December tackled the carmaker's problems of high labour costs and capacity underutilisation.

The ailing German brand, facing plant closures at home and declining sales of its once vaunted EVs, hopes the ID. Buzz can revitalize consumer interest.

VW produces and sells vehicles around the world. Its Germanness is an important selling point, but the company is equally at home in China, Brazil and the US. Its dependence on foreign markets may soon come to bite.

Despite strong headwinds, Volkswagen delivered around 4.8 million vehicles to customers worldwide last year (down 1.4% YoY). The German carmaker, which also has a broad range of battery electric vehicles (BEVs),

Volkswagen's deliveries fell last year, the German carmaker said Tuesday, underlining fierce Chinese competition and faltering demand for electric vehicles.

Volkswagen is exploring alternative uses for its Dresden and Osnabrueck factories under a cost-cutting drive to pare back its German operations. Europe's biggest automaker, which owns brands including Porsche, Audi and Skoda, has seen sales fall amid rising competition from Chinese companies.

By Divya Chowdhury and Victoria Waldersee DAVOS, Switzerland (Reuters) -Volkswagen needs to increase investments in the U.S. to hit its market share targets, and cut costs in Europe to achieve profitable growth,

German carmaker Volkswagen expects to make further savings from 2027 from an overhaul of the company's wage structure, following major concessions from Volkswagen's workforce in a recent collective bargaining deal.