New Delhi, Sept. 4 -- Volkswagen Group's India business plans to cut around 12% of its workforce as the company looks to reduce costs before entering its next investment cycle in the country. The German automaker is the latest, after Ford, Nissan and Stellantis, among others, to cut costs as the sector faces challenges, including electric vehicles (EVs) that remain too expensive for consumers.

The overhaul is expected to save Volkswagen tens of millions of dollars in India by the time it starts launching its next generation of vehicles, including a new electric model.

"While we do not comment on speculative figures regarding our workforce, our ongoing efforts to optimize operations across our Indian business units continue to gain momen...