Volkswagen CEO says it’s not a ‘fantasy world’ as 100,000 workers strike
Volkswagen CEO Olivier Blume faced a huge booing crowd in Germany today, telling tens of thousands of workers that the company isn’t operating in “a fantasy world” and that plants will be closing and jobs will be lost. Here’s the latest.
On Monday, a hundred thousand workers walked off at nine Volkswagen factories across Germany, including its EV-only factory, bringing assembly lines to a grinding halt in the battle over the slashed pay, lost jobs, and the automaker’s future. Now Blume is locked in an intense dispute with IG Metall, with management pushing for major cuts while workers are threatening more strikes if a fair deal isn’t met.
Today, a group of about 20,000 workers at VW’s main plant in Wolfsburg listened to Blume make the claim that the company has its hands tied. “As management we are not operating in a fantasy world. We are making decisions in a rapidly changing environment,” he told workers, according to Automotive News Europe. Blume added that he grew up in the region and Wolfsburg was close to his heart, but that sentiment was met with roaring boos from the crowd.
Volkswagen and IG Metall are scheduled to meet for a fourth round of talks on December 9.
The strike comes after weeks of collective bargaining negotiations in which Volkswagen didn’t back down from its plan to potentially cut thousands of jobs and close factories in Germany – a first in the automaker’s 87-year history in the country. Volkswagen plans to close at least three factories, lay off thousands of workers, and trim pay for those remaining by 10%, all as it fights to stay alive amid stiff competition from China. Volkswagen announced that it would officially close its Audi plant in Brussels where it makes the Audi Q8 E-Tron.
“The price pressure is immense,” Blume said, adding that VW was struggling in its biggest market China and that labor costs in Germany were too high to compete. “We therefore urgently need to take measures to secure the future of Volkswagen,” he said, according to the report. “Our plans for this are on the table.”
A rough comparison of wage data from 2023 shows that, on average, the hourly wage for a worker in the German automobile industry is about 33 euros ($34,72), which has been mostly unchanged in the past few years. Looking at autoworker wages in China, a Reuters analysis of 30 auto firms in the country, including Tesla, SAIC, and Xpeng, shows hourly wages of 14 yuan ($1.93) to 31 yuan ($4.27). BYD posted a position last year at its Shenzhen factory with a monthly income starting at 5,000 yuan, or $688.
Meanwhile, Blume makes about $10 million a year, with reports saying that wage cuts haven’t included his own. VW’s labor council head Daniela Cavallo has criticized Blume for not being willing to make sacrifices in management and among the shareholders. She said the union is aiming for a deal to be finalized by Christmas. “That will mean compromises. Concessions too. Things that you don’t like and that sometimes hurt you one way or another. But that has to apply to all sides,” she said. “Otherwise, it’s not a compromise.”
This comes at a time when VW is radically restructuring its business to cut costs, while seeking to streamline production and development processes, shaving off months on the development cycles of specific projects to help tighten the belts, all while rethinking its EV retail model to stay more competitive. Volkswagen has been facing a steep decline in sales in China, which is its core market, while simultaneously facing challenges from BYD and other Chinese automakers entering the European market.
As an aside, the strikes didn’t spread to its factories in the US, where many workers are unrepresented by unions. The United Auto Workers represent only one Volkswagen plant in Chattanooga, Tennessee, but they were not involved in the European strikes.
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Blink Charging (Nasdaq: BLNK) has struck a deal with Hubject to make charging easier for EV drivers across North America.
The agreement will bring Blink into Hubject’s intercharge eRoaming platform as a charge point operator. That means electric mobility service providers (eMSPs) and their customers in the US, Canada, and Mexico will soon have access to Blink’s charging stations through their existing apps. In turn, Blink drivers will gain better access to stations connected through Hubject’s network.
Hubject, which already connects more than 1 million charging points and 2,750 partners worldwide, expects the integration to strengthen its North American presence by adding Blink’s wide-ranging network of chargers, from Level 2 workplace stations to DC fast charging. Blink, meanwhile, anticipates more customers will plug in, thanks to Hubject’s reach.
“Our collaboration with Blink marks an important step in expanding our North American intercharge network,” said Trishan Peruma, CEO of Hubject North America. “By integrating Blink’s network into our eRoaming platform, we aim to help reduce barriers that have historically complicated EV charging and to support the continued growth of EV adoption across the United States, Canada, and Mexico.”
Blink Charging’s president and CEO Mike Battaglia added, “Connecting the Blink Network to Hubject’s platform will allow more drivers to benefit from interoperable charging while traveling.”
The integration will use the industry-standard OCPI protocol to keep billing and communication between networks secure and reliable. Deployment is planned in phases throughout 2025, with full integration targeted for the end of the year.
Read more: Blink just made it a lot easier to find its charging stations
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Hyundai wants to make the electric sports car for everyone. Not just those who can afford it. The new Hyundai IONIQ 5 N Essentials trim was launched in Korea on Monday, offering a lower price tag but the same thrilling drive.
Hyundai launches new IONIQ 5 N Essentials in Korea
The IONIQ 5 N is Hyundai’s first EV sports car under the IONIQ series. Initially launched in 2023, the IONIQ 5 N marked a new era for Hyundai’s high-performance N division.
Hyundai’s electric hot hatch not only looks the part with added sporty “N” branded elements scattered inside and out, but it’s also packed with fun features, advanced tech, and a host of drive modes.
Based on a dual-motor all-wheel drive (AWD) powertrain, the IONIQ 5 N delivers up to 641 horsepower when N Grin Boost is engaged. Even without it, the electric sports car packs 601 hp.
It also draws power from an 84 kWh battery, good for an EPA-estimated range of 221 miles. On the WLTP scale, it’s rated with an official range of 278 miles (448 km). The added power results in a lower range than other IONIQ 5 trims.
Although it was already one of the most affordable sports cars, EV or gas-powered, Hyundai is lowering the price even further.
After launching the new Essentials model in South Korea on Monday, Hyundai said the new trim “is characterized by lowering the barrier to entry so that customers can experience the overwhelming driving performance of the IONIQ 5 N at a reasonable price through optimized specifications.”
Hyundai focused on core convenience features while including the same high-performance motors, battery, and N-specific elements as the base model.
A Hyundai official said, “The Essential trim of the IONIQ 5 N is a new trim that offers greater cost-effectiveness to lower the barrier to entry for high-performance electric vehicles.”
The IONIQ 5 N features advanced driver assistance systems (ADAS), including highway driving assist and navigation-based smart cruise control. Hyundai has also added an exclusive new “Parking Assist Lite” package, offering safety and convenience features such as surround view monitoring and rear parking assistance.
The new Hyundai IONIQ 5 N Essentials trim starts at 74.9 million won ($54,000), including tax benefits. Hyundai said it will continue to make competitive products so more buyers can experience high-performance EVs.
Although the Essentials trim is not available in the US, the IONIQ 5 N is still more affordable than most sports cars. The 2025 Hyundai IONIQ 5 N starts at $66,200. But, with the $7,500 tax credit, which is set to expire on September 30, leases are currently listed as low as $549 per month.
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A federal judge has cleared the way for Ørsted’s nearly complete 704-megawatt (MW) Revolution Wind offshore wind farm to restart construction, overturning a stop-work order imposed by the Trump administration.
Reagan-appointed senior US District Judge Royce C. Lamberth granted a preliminary injunction in Washington, DC, calling the government’s conduct “the height of arbitrary and capricious government conduct.” He added, “If Revolution Wind cannot meet benchmark deadlines, the entire project could collapse. There is no doubt in my mind of irreparable harm to the plaintiffs.”
Ørsted welcomed the ruling and said in a statement, “Revolution Wind will continue to seek to work collaboratively with the US Administration and other stakeholders toward a prompt resolution. Revolution Wind will resume impacted construction work as soon as possible, with safety as the top priority.”
The decision marks a significant setback for the Trump administration’s attempts to stall offshore wind development. Revolution Wind is already about 80% complete, with all turbine foundations and 45 of 65 turbines successfully installed, and expected to power 350,000 homes in Rhode Island and Connecticut. Earlier this month, the two states’ attorneys general announced they were suing the Trump administration to overturn its “baseless” decision to halt Revolution Wind. That underlying lawsuit challenging the stop-work order will continue to progress.
Oceantic Network CEO Liz Burdock said, “Today’s decision allowing work to resume on Revolution Wind is welcome news for the hundreds of skilled workers who can now return to their jobs while the legal process continues. This Made in America energy project is putting Americans to work building reliable, affordable power to communities across New England that desperately need it.”
Read more: Connecticut, Rhode Island sue Trump to save 80% complete offshore wind farm
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