Volkswagen cuts EV production in Germany, shelves €2 billion factory plan due to slow demand and IT outage.

Volkswagen is cutting the production of electric vehicle (EV) models at two German plants due to declining European demand and shrinking government subsidies. The company cites slow demand as the reason for the production cuts. Additionally, Volkswagen has been hit by an IT outage, leading to the halt of brand vehicle production in Germany. As a result of the production cuts and IT outage, Volkswagen has decided to shelve its plan to build a €2 billion ($2.1 billion) EV factory in Germany.