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Volkswagen’s $600 Million US EV Retreat: ID.4 Shutdown Signals Broader American Market Woes
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Volkswagen’s $600 Million US EV Retreat: ID.4 Shutdown Signals Broader American Market Woes
Volkswagen AG confronts a stark reversal in its U.S. electric vehicle ambitions. The German automaker will book up to $600 million in first-quarter writedowns after halting production of the ID.4, its only American-made EV, at the Chattanooga, Tennessee plant. This charge equals 60% to 75% of the original $800 million retooling investment, as confirmed by a company representative to Bloomberg. ID.4 output ends before April’s close. The factory s…
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