The Telegraph pointed out the plight of the Volkswagen carmaker

The future of the German automobile concern Volkswagen "hangs in the balance," and it may soon become one of Europe's "heavy losses" in attempts to resist American duties. This was reported on July 18 by The Telegraph newspaper.

There is a possibility that Volkswagen will be forced to transfer or outsource most of its engineering and design developments to China. The company may even have a Chinese owner, the newspaper writes.

The CEO of the concern, Oliver Blume, recognizes the deplorable situation. In a memo, he informed employees about the risks of another staff reduction: 50,000 out of 650,000 employees could lose their jobs. Factories in Emden, Hanover, Zwickau and Neckarsulm, which produce about 750,000 cars per year, are under threat of closure.

Employees' trust in management is falling, while discontent is growing. According to the company's production board, "there is practically nothing left of the trust and goodwill with which Blume began work in 2022."

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Blume, in an interview with the Bild newspaper on July 12, said that he would like to avoid the option of closing production facilities in Germany in order to reduce costs. He added that there is a great demand for the products produced by the concern. However, even such conditions do not allow you to make a sufficient amount of profit.