VW freezing promotions due to emissions scandal: report
Frankfurt
VOLKSWAGEN will freeze managerial promotions next year at its VW division as part of a savings drive to help meet the cost of a scandal over diesel emissions tests, a German business magazine reported on Saturday.
The German company also plans to re-use as many parts as possible in the next generation of its popular Golf model to save hundreds of millions of euros, according to the Manager Magazin report, which cited Volkswagen sources.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
China's largest auto show displays all-electric future, local brands dominate
Toyota hits record annual output, sales on robust demand
Nissan, Mazda roll out new models for China as they aim for comeback
VinFast chief plans to invest US$1 billion more from his fortune in EV maker
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’