Volkswagen will cut 50,000 more jobs by 2030. Four German plants may lose car production after 2031, but no Latin American plant is named.

Volkswagen plans to shut four German plants by 2034, shifting key EV and van production abroad and potentially affecting prices and availability.

Volkswagen says it will cut 50,000 more jobs, taking total losses to 100,000.

Volkswagen’s board backs 50,000 additional job cuts, fewer models and a smaller industrial footprint as the carmaker targets a 9% margin by 2030.