Volkswagen puts electric ID. Golf on hold over costs

Volkswagen has put work on the planned ID. Golf on hold for now because of cost pressure, brand CFO David Powels said in a statement last week. Volkswagen Passenger Cars CEO Thomas Schaefer told staff in an internal memo, reported by Reuters, that the company cannot afford the project at present. Powels said the brand's EVs do not yet earn the margins of its combustion models. Volkswagen Group lost 5.9 billion euros at the operating level, the largest loss for a quarter in over 10 years, according to The Driven.