Germany’s transport authority has ordered 2.4 million Volkswagen cars to be recalled. The vehicles were fitted with software which enabled them to cheat on emissions tests. The scandal has seriously tarnished the ‘Made in Germany’ brand.
German carmaker Volkswagen has announced it will boost investments in the development of electric cars in the next five years. The company has set out to become a global leader in e-mobility and new-energy vehicles.
Volkswagen's mass recall of polluting diesel cars in the United States is proving more difficult and costlier than expected, forcing the beleaguered German carmaker to set aside billions more in the third quarter.
US regulators have approved a fix for emissions systems in 38,000 Volkswagen AG 3.0-liter vehicles. The decision means the German carmaker won't have to buy the vehicles back, potentially saving more than $1 billion.
Net profits tumbled in the third quarter at Volkswagen as the world's biggest carmaker booked higher-than-expected charges related to the emissions cheating scandal in the US. Surprisingly, VW's future looks rosier.
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