Volkswagen Mulls German Plant Closures to Cut Costs
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Volkswagen is weighing closures of vehicle production and component factories in Germany to cut costs as the carmaker faces increasingly stiff competition. The group said all of its brands needed a comprehensive restructuring to keep factory, labor, product and material costs in check amid fierce competition from European rivals as well as Chinese carmakers. Germany is a key battleground for established European automakers like Mercedes-Benz Group BMW and others that Volkswagen has to compete with.