Investing.com -- Volkswagen's chief financial officer said today that the company lacks economically viable production plans for four German facilities after current products end in the early 2030s.

Arno Antlitz delivered the warning during a visit to the Hanover plant ahead of a board meeting this week. He cited significant cost disparities compared to other European plants as the main obstacle.

The CFO stated that plant closures remain the costliest option and the last resort for the company. He said Volkswagen will do everything possible to protect jobs and industrial value creation at its sites, including Hanover.

Antlitz warned that continuing production at all German plants without cutting excess capacity would result in a permanent cost disadvantage of around €1.5 billion per year.