Volkswagen is preparing a major restructuring that aims to cut costs by 20% by 2028.
Plant closures are reportedly being considered as part of the plan.
Chief executive Oliver Blume and finance chief Arno Antlitz presented the proposal to senior managers.
The goal is to secure long-term profitability as Chinese carmakers gain market share in Europe and costs remain high.
An earlier overhaul already included plans to cut 35,000 jobs by 2030 and save €10bn.
Volkswagen says previous measures have produced savings in the double-digit billions and helped absorb geopolitical pressures such as US tariffs.
EU data showing a growing trade deficit with China underlines the pressure on German manufacturers.
Details on where new savings will be made have not yet been confirmed.
