Volkswagen Group is facing pressure to cut costs. The union chairman stated that the management committee plans to close up to three German factories, downsize other plants, spin off core business areas, and implement large-scale salary cuts, which will affect electric vehicle production. Volkswagen has not yet confirmed this, but the union has warned of related risks. Meanwhile, Volkswagen will release its lackluster Q3 business results on Wednesday and begin the next round of collective bargaining with the union, with a low likelihood of reaching an agreement.