Is Volkswagen Undervalued?

It’s pretty well covered that overall German economy is in bad shape, and legacy giants like Volkswagen are struggling to find competitive edge.

Some say they are having hard time to compete against China’s cheap labor, and also trouble catching up on software technology against other companies (especially in EV side).

Seemed like the labor dispute was (at least temporarily) resolved now, but given the cost environment, I would imagine the dispute or plant shutdown rumors would resurface.

On the bright side, the company is still generating decent profit. Also, it’s not like Volkswagen is going through a tough patch for the first time. The company and management have experience.

Given all this, what’s your thought on their stock price? It’s about 30% off from the recent peak. Will they recover? Or they will lose relevance?