posted in Technology
Volkswagen profits drop 10% as embattled automaker considers massive job cuts
cross-posted from: https://piefed.world/c/tech/p/1283882/volkswagen-profits-drop-10-as-embattled-automaker-considers-massive-job-cuts
lite.cnn.com/2026/07/24/business/volkswagen-profit-fall-job-cutsReplying to @beep@piefed.world
I don’t know how all the western car manufacturers dropped the ball so hard on EVs.
Yes, the batteries were always expensive, but VW frankly didn’t see to even try to innovate on EVs, so I think this is largely self-inflicted pain by management reluctant to try anything new.
Replying to @panda_abyss@lemmy.ca
I’d say it’s both self-imposed incompetence and bullying from Trump and his oil barons.
Replying to @lemmyng@lemmy.world
For decades though they didn’t bother to invest when they could have. For a decade since Tesla proved there was a viable a market they didn’t do much more than token effort (ugly plastic Evs, not innovating in the tech at all)
As much as I hate Elon Musk at least he did get the EV industry legitimized.
Replying to @panda_abyss@lemmy.ca
They had to choose between short term profits and being relevant by 2030. Shareholders picked the first option.