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Volkswagen is investing two billion euros in China to expand electromobility. The carmaker is investing around one billion in its existing joint venture JAC Volkswagen, as Volkswagen announced on Friday and confirmed corresponding information from Reuters. Wolfsburg is buying shares in the battery manufacturer Gotion (Guoxuan) for another billion. | more
BMW wants to accelerate the job cuts in the group. The board of directors is negotiating with the works council how to cut around 6,000 of the 126,000 jobs worldwide as soon as possible without redundancies. "The decisions made so far are not sufficient to steer the BMW Group in the best possible way through this extremely difficult situation," said CFO Nicolas Peter on Friday.
Isn't the federal government getting on with Lufthansa? Airline supervisory boards have now proposed an alternative: self-administered bankruptcy. The magazine "Focus" quoted members of the supervisory body as having advantages over state aid. If the airline goes bankrupt, for example, the reimbursement of airline tickets could be suspended. It would also make layoffs and the closure of unprofitable subsidiaries easier. Meanwhile, Lufthansa employees expressed their displeasure in a letter to EU Commission chief Ursula von der Leyen and EU competition commissioner Margrethe Vestager Luft. "The conditions you attach to saving our company are shattering for us,"
