Volkswagen will reduce investment spending at its main passenger-car brand by €1 billion a year and speed up other cost cuts in the wake of a diesel emissions-cheating scandal.
The German carmaker will switch to a different technology for treating diesel emissions in Europe and North America “as soon as possible,” the Wolfsburg-based carmaker said. VW plans to put more focus on developing plug-in hybrids and other electric-powered vehicles, including redesigning the Phaeton sedan as...
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