Volkswagen takes $6 billion hit from Porsche plan to delay EV rollout
Yahoo Finance·2025-09-20 00:21
By Thomas Seythal and Christoph Steitz BERLIN/FRANKFURT (Reuters) -Porsche AG on Friday dialled back plans for its electric vehicle rollout due to weaker demand, pressure in key market China and higher U.S. tariffs, causing the luxury sportscar maker and its parent Volkswagen to slash their 2025 profit outlooks. Volkswagen, Europe's largest carmaker, said it would take a 5.1 billion euro ($5.99 billion) hit from the far-reaching product overhaul at its subsidiary. The changes are a major shift for the S ...