Volkswagen has announced plans to close at least three German plants and cut thousands of jobs, according to union representatives. The move aims to address the company's financial struggles amid a global shift towards electric vehicles. Industry experts suggest that the restructuring will help Volkswagen adapt to changing market demands and increase efficiency.

Source: https://www.ft.com/content/a7721c5f-164d-4793-b413-1bd8dd45f1a1