Volkswagen aims to cut costs by 20% by 2028 as competition from Chinese carmakers intensifies.
Reports say plant closures remain an option within the restructuring plan.
Chief executive Oliver Blume and finance chief Arno Antlitz presented the savings strategy to senior managers.
The programme follows an earlier overhaul that included 35,000 job cuts by 2030 to save €10bn.
High costs, weaker sales and growing automation are forcing change across Germany’s auto industry.
Volkswagen said previous measures have already delivered multibillion-euro savings and helped offset geopolitical pressures.
Rising imports from China underline the urgency.
The EU trade deficit with China reached €359.3bn in 2025.
Further details on where the new cuts will fall are expected with the company’s results in March.
