Volkswagen is trying to make peace with its unions, unveiling a bold plan to turn around the embattled carmaker. During a works meeting in Wolfsburg, Volkswagen CEO Thomas Schaefer offered the first glimpse at the design of a future entry-level EV set to sell for about 20,000 euros. Surprisingly, the design sketch resembles the supposedly dead original ID. Life concept.
Volkswagen is not doing very well, with a failed EV program and shrinking market share across the globe. Its best chances for a turnaround are deep cost cuts, including plans to lay off thousands of workers and possibly close factories. This has understandably angered its powerful unions, which seem inclined to let the company die rather than help save it by making any concessions.
The management and the works council reached an agreement in December, but discussions are still ongoing. During a works meeting on Wednesday, the management presented to the employees a plan for the future of the Volkswagen brand. This includes launching an entry-level electric car retailing for roughly 20,000 euros ($20,850).
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