Key facts
- Volkswagen is suspending development work on the all-electric Golf.
- The move is part of sweeping cost cuts at the automaker.
- The Wolfsburg plant faces a 300 million euro shortfall against its cost-cutting target.
- The ID. Golf is planned for Volkswagen's next-generation SSP software architecture.
- The SSP platform has already been delayed from its original 2026 launch target.
Volkswagen is suspending development work on the all-electric Golf at its Wolfsburg headquarters as part of sweeping cost cuts. Thomas Schaefer, CEO of the German group's volume brands, stated the decision was difficult but necessary due to current financial pressures. The move highlights the financial strain on Europe's largest carmaker, which is also planning to cut 100,000 jobs and close up to four German plants. The Wolfsburg plant faces a 300 million euro ($336 million) shortfall against its cost-cutting target. Tensions are rising with the IG Metall union, which is considering strikes from January 1.