Volkswagen said it would slash 50,000 additional jobs — bringing the total to 100,000 by the end of the decade, the most in automotive history — as the German firm faces cutthroat competition from Chinese carmakers. European leaders have stepped up their vows to crack down on Chinese imports despite the potential blowback: A recent poll of 1,300 German companies showed 55% back tougher trade measures against China, even if they themselves suffer.
European industry has rallied together as Chinese firms target sectors Brussels considers vital to its competitiveness. All the while, competition is getting stiffer: Xiaomi, maker of some of the most advanced EVs, said it would launch European sales next year, the South China Morning Post reported.
