Nokia Is Replacing VW In A Major European Stock Index, And That’s The Least Of VW’s Problems

02/09/2026

Volkswagen’s cost-cutting plans could ultimately put up to 100,000 jobs at risk. CEO Oliver Blume wants annual production capacity slashed from 12 to 9 million.

Lower Saxony’s 20% voting stake makes it a powerful ally for threatened plants. Volkswagen’s factory crisis is getting close to a boardroom brawl. Management reportedly faces a crucial vote on September 4 over its restructuring plans and could take the fight directly to shareholders if it loses.

Meanwhile, VW has suffered another indignity, losing its place in Europe’s most important stock market index to Nokia. . We’ve already reported that VW Group management is looking at potentially closing four German factories in the next decade.

Emden and Zwickau could reportedly go in 2031, Hanover in 2032, followed by Audi’s Neckarsulm facility in 2034. Related: VW Plans An American-Built Pickup Before. The Decade Ends Together, those plants currently employ tens of thousands of people.

But wanting to close production sites and actually getting permission to do it are two very different things. Management’s restructuring proposal failed at VW’s supervisory board in July after opposition from its…

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