Business · Companies · 10 hrs ago

Volkswagen pauses development of electric ID. Golf to cut spending

Volkswagen pauses development of electric ID. Golf to cut spending

Volkswagen has paused development of its planned electric ID.

Golf as the German carmaker tries to reduce spending.

The company has not canceled the model, which is intended to bring the Golf name to an electric car.

It had already pushed the planned launch from 2028 to the end of the decade, and the car is now expected in the early 2030s.

Volkswagen said it would restart work as soon as it could afford the investment, while its works council said the pause does not necessarily mean a later launch.

The delay comes as Volkswagen faces serious financial pressure, including a reported third-quarter loss of 5.8 billion euros.

The company says electric cars currently earn it less than comparable petrol and diesel models, partly because it buys key battery components and faces strong price competition.

Until the electric Golf arrives, Volkswagen’s updated ID.3 will continue as its electric Golf alternative.

6 sources

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What people are saying

Thomas SchäferVolkswagen brand chief
We simply can't afford this work right now
via Daily Sabah
We cannot afford this work right now.
via Watson
The situation is serious
via n-tv
Volkswagen works councilEmployee representative body
However, the freeze on spending for preliminary work on the ID. Golf is yet another sign of how strained the group's financial situation is
via Daily Sabah