Volkswagen is set to record write-downs of as much as $600m in the first quarter after deciding to halt production of its only US-manufactured EV, the ID.4, at its Chattanooga, Tennessee facility. The impairment charge is expected to amount to between 60% and 75% of the company’s initial $800m investment to reconfigure the plant, according to a company representative cited by Bloomberg. Production of the ID.4 is scheduled to cease before the end of the month, with the site being repurposed to produce th ...