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The Independent UK
The Independent UK
National
David McHugh

Volkswagen shares rise as investors cheer board approval of sweeping cost reductions

Oliver Blume United States Volkswagen
Germany - ((c) Copyright 2026, dpa (www.dpa.de). Alle Rechte vorbehalten)

Volkswagen shares rose 6% on Friday after its board of directors approved sweeping cost cuts aimed at confronting challenges including ferocious Chinese competition and US tariffs.

Investors were cheered by CEO Oliver Blume's success Thursday in pushing the streamlining effort through the board, where employees are strongly represented.

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