Volkswagen will cut 50,000 jobs in Germany by 2030, expanding an earlier 35,000 layoff package and shifting further reductions to Audi, Porsche and software unit Cariad.The group says earnings after tax plunged to €6.9 billion and operating profit halved to €8.9 billion, and it cites a €5.1 billion hit after Porsche cut its medium-term profit target while planning to keep selling petrol cars longer.Robert Bosch GmbH tops the German Patent and Trade Mark Office list with 4,109 patent applications and the auto sector accounts for about 30 percent of the 62,050 filings, driven by electric drives, battery technology, infotainment and artificial intelligence work.Management says it seeks about €15 billion in annual savings, will negotiate terms with Industriegewerkschaft Metall and warns that competition in
China from
BYD and
Geely, weak electric vehicle demand and trade and energy uncertainties make the plan risky.