Update: Volkswagen Pauses Work on Electric Golf Amid Financial Strain

09:34 AM EDT, 10/30/2026 (MT Newswires) -- (Updates with Volkswagen's statement) Volkswagen (VOW.F, VOW3.F) temporarily suspended development of the all-electric Golf at its headquarters in Wolfsburg, Germany, citing the company's "currently challenging earnings situation," a spokesperson told MT Newswires on Friday. "The project is not being cancelled, but paused. The aim is to resume work as quickly as possible. This requires Volkswagen to generate the necessary funds for its future investments. To achieve this, we must continue to reduce our costs and meet the targets we have set," the spokesperson said, adding that the German automaker remains committed to the ID. Golf. The statement comes after Reuters reported, citing a memo by Thomas Schaefer, CEO of the Volkswagen brand, that the group "can't afford" the work on the ID. Golf right now.