Volkswagen crisis

Scania on VW's savings package: "Impossible to answer"

It is unclear whether and how the Södertälje-based truck manufacturer Scania is affected by owner Volkswagen's large savings package, which was presented on Thursday.

- It is completely impossible for us to answer. These are decisions made within Volkswagen, if this affects us in the long term we cannot comment, says Veronica Nilsson, press officer at Scania, to TT.

Volkswagen owns 87.5 percent of the shares in Traton, which in turn owns the truck companies Scania and MAN. 

Volkswagen crisis: "20,000 Swedish jobs at risk"

Swedish jobs in the automotive industry may be at risk as a result of Volkswagen's crisis, which could lead to a sharp reduction in production and the closure of factories. This is reported by Sveriges Radio.

Overall, 350,000 jobs are at risk in the supply chain by 2030, according to Peter Bryntesson, CEO of the industry association FKG. The problems could mean mass layoffs in the next four to five years in Sweden as well.

– If you convert that to Swedish figures, it would be around 20,000 jobs in Sweden, Peter Bryntesson tells Sveriges Radio.

Sources: Union stops Volkswagen's savings plans

Union representatives on Volkswagen's supervisory board stopped the management's extensive restructuring plan at a meeting on Thursday, Reuters reports, citing sources.

According to the sources, the supervisory board voted down the proposal by twelve votes to seven. The proposal has previously been reported to include up to 100,000 job cuts and the closure of four factories in Germany.

The company instead presented an overall goal of reducing production capacity to nine million cars per year and halving the number of models over time.