Berlin. German car manufacturer Volkswagen Group has announced plans to cut 50,000 jobs and stop production of nearly half of its vehicle models as part of cost-cutting measures. The company has made such a decision amidst increasing competition from Chinese car companies in the European market and pressure from additional import duties (tariffs) in the American market.Volkswagen has stated that its factories in Germany have a production capacity of more than 500,000 vehicles annually. However, the company has not clarified which factories will be closed or where and how many jobs will be cut. The Volkswagen Group includes brands such...