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VW suspends development of new Golf at main plant under cost pressure, memo shows

By Reuters News

BERLIN, Oct 30 (Reuters) - Volkswagen is suspending development work on the new all-electric Golf in Wolfsburg, a top executive told workers in an internal memo seen by Reuters on Friday, telling them the carmaker's main plant was behind on cost targets.

"I know what the Golf means for Volkswagen and for Wolfsburg. That's why this decision was really not an easy one for us," said Thomas Schaefer, CEO of the German auto group's volume brands.

"We simply can't afford this work right now," he said.

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