Volkswagen aims to cut costs by 20% by 2028 as part of a new restructuring plan.
Plant closures are possible, according to reports presented by chief executive Oliver Blume and finance chief Arno Antlitz.
Weak sales, high expenses, automation and the growing strength of Chinese carmakers are driving the overhaul.
The group had already announced 35,000 job cuts by 2030 to help save €10bn.
Volkswagen said earlier measures produced savings in the double-digit billion-euro range and helped offset geopolitical pressures such as US tariffs.
Details on where new cuts will fall remain unclear.
The plan comes as the EU’s trade deficit with China reached €359.3bn in 2025.
German manufacturers remain deeply tied to the Chinese market through joint ventures and production.
The restructuring is meant to secure long-term profitability in a far more competitive environment.
