Volkswagen aims to cut costs by 20% by 2028 as competition from Chinese carmakers intensifies.
Plant closures remain a possible part of the restructuring.
Chief executive Oliver Blume and finance chief Arno Antlitz outlined the savings plan to senior managers.
The goal is to secure sustainable profits despite falling sales, high costs and rapid industry automation.
An earlier overhaul already included 35,000 job cuts by 2030 and a €10bn savings target.
Volkswagen says previous measures have saved tens of billions of euros and helped offset geopolitical pressures such as US tariffs.
The push comes as the EU trade deficit with China continues to grow and German carmakers remain deeply tied to the Chinese market.
Further details on where the new cuts will fall have not yet been confirmed.
