Volkswagen aims to cut costs by 20% by 2028 as part of a new restructuring drive.
Plant closures remain a possible option, according to reports.
Chief executive Oliver Blume and finance chief Arno Antlitz presented the plan to senior managers.
The goal is to secure stable profits despite falling sales, high costs and growing pressure from Chinese carmakers.
An earlier overhaul already included 35,000 job cuts by 2030 and targeted €10bn in savings.
The company says it has achieved cost reductions worth tens of billions of euros so far.
New data shows the EU trade deficit with China rose to €359.3bn in 2025.
German manufacturers remain deeply tied to the Chinese market through joint ventures.
Volkswagen recently won tariff relief for the China-built Cupra Tavascan by agreeing to minimum prices.
Further details on where savings will be made are expected with the annual results in March.
