Volkswagen pauses electric Golf as losses mount

Volkswagen has paused development of the all-electric Golf at its Wolfsburg plant to save costs, after reporting a €5.9 billion third-quarter operating loss, its worst since the 2015 Dieselgate scandal. Brand CEO Thomas Schäfer said in a memo the company simply cannot afford the work now. Wolfsburg is about €300 million short of its savings targets. The Golf EV had already slipped towards 2030.