Oliver Blume & Volkswagen

Oliver Blume: Oliver Blume, as CEO of Volkswagen, is the architect of the proposed restructuring plans, aiming to make the company more competitive by cutting jobs, closing plants, and reducing investment. He is under pressure to revive Volkswagen's fortunes.

Volkswagen: Volkswagen is facing immense pressure from competition and high costs, leading it to consider massive job cuts and plant closures to improve competitiveness and profitability. Its market share has declined in China, and its stock price has fallen.

Oliver Blume: Oliver Blume, CEO of Volkswagen, commented on the strategic importance of the sale, emphasizing the creation of added value through leaner structures for Everlence and increased focus on Volkswagen's core business.

Volkswagen: Volkswagen sold a 51% stake in Everlence for approximately EUR 7.4 billion, strengthening its financial position and allowing it to focus on its core business. It will retain a 49% stake in Everlence.

Oliver Blume: As Volkswagen Group CEO, Oliver Blume made the decision to end the partnership with Bosch (company) and is driving the new strategy to rely on partners and suppliers to improve speed and scalability.

Volkswagen: Volkswagen ended its partnership with Bosch (company) due to dissatisfaction with the progress and competitiveness of the developed technology, leading to a reported investment loss of €1.5 billion and a search for a new partner. This aligns with its cost-saving measures and strategy to rely more on external suppliers.

Oliver Blume: Oliver Blume, Volkswagen's CEO, emphasized the need for Volkswagen to align its strategy with a fundamentally changing world and explore options like defense production and making Chinese-designed cars to utilize spare capacity.

Oliver Blume: Oliver Blume, CEO of Volkswagen Group, indicated the company's openness to building military equipment amid struggles in the auto industry.

Oliver Blume: Oliver Blume, CEO of Volkswagen, emphasized that the know-how gained in China is crucial for Volkswagen's goal of becoming a leading tech player globally.

Oliver Blume: Oliver Blume, CEO of Volkswagen, commented on the burden of US tariffs on the German group's operating profit.