THE LATEST DEVELOPMENTS - Crisis at Volkswagen: VW subsidiary Porsche sells stakes in Bugatti Rimac and Rimac Group +++ Employees want to force VW board into talks

VW Group faces profound transformation: By 2030, Europe's largest car manufacturer plans to cut 50,000 jobs. In parallel, VW subsidiary Porsche is selling its stakes in Bugatti Rimac and the Rimac Group.