AD #3923 - VW To Close 3 Plants in Germany; Mercedes' and Porsche's Earnings Down Sharply; Hyundai Reveals Hydrogen Tank

Volkswagen plans to close three German plants and cut tens of thousands of jobs amid shrinking profits and slowing sales, reflecting broader struggles for German automakers. Mercedes and Porsche both reported significant drops in earnings and sales, with Porsche also closing dealerships in China. Renault is boosting employee ownership through free shares, while Weimo raised $5.6 billion to expand its robotaxi service. The US Department of Energy awarded a grant to Anthro Energy to build a large-scale electrolyte plant for lithium-ion batteries. Hyundai showcased its high-performance EV test car and revealed a hydrogen-powered tank with advanced features, aiming for a 2040 launch.