Volkswagen, Europe's largest carmaker, is set to cut tens of thousands of jobs and close several plants in Germany as it grapples with rising costs and fierce competition in the electric vehicle market.

Volkswagen CEO Oliver Blume is reportedly planning significant changes, including potentially cutting up to 100,000 jobs globally and closing four German plants. The company also…

Volkswagen plans to discontinue production at four of its German plants, according to news reports. Read more at straitstimes.com. Read more at straitstimes.com.