Volkswagen Halts Electric Golf Development Over Cost Failures

Volkswagen AG has halted the development of its new all-electric Golf model at its manufacturing facility in Wolfsburg. The company suspended the project after the plant failed to meet critical cost reduction goals, making the continued creation of the electric version of the recognizable model financially unviable.

Thomas Schaefer, CEO of the group's volume brands, stated that the company "simply can’t afford this work right now." Schaefer noted that the decision was not easy, acknowledging that he knows "what the Golf means for Volkswagen and for Wolfsburg."