Volkswagen considers German plant closures to save billions in costs

Plans underline European carmakers' problems in switching from petrol and diesel vehicles to electric models

Volkswagen is considering shutting two German factories, in what would be the carmaker's first closures ever in its home country, as it struggles with the transition away from fossil fuels.

The Wolfsburg-based manufacturer on Monday informed its works council, which represents employees, that it was looking at closing at least one larger vehicle manufacturing plant and one component factory in Germany" in order to find cost savings worth billions of euros.