VW cuts investment budget as talks continue over how to fix 11 million cars
Carmaker slashes figure by €13 billion on previous plan following emission scandal
Volkswagen has cut its annual investment budget amid unresolved talks with European and US regulators about how to fix about 11 million cars with rigged emissions systems.
The carmaker said Friday it will spend €12 billion on factories and equipment next year, down from about €13 billion on its previous plan.
The company’s supervisory board, managers and labour leaders are wrangling over how best to prune an automotive group that spans 12 brands and more than...
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