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Volkswagen to speed up electrification in five-year investment plan

Published 10/02/2023, 14:24
Updated 10/02/2023, 14:32
© Reuters. FILE PHOTO: A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters during a media tour to present Volkswagen's so called "Blaue Fabrik" (Blue Factory) environmental program, in Wolfsburg, Germany May 19, 201

© Reuters. FILE PHOTO: A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters during a media tour to present Volkswagen's so called "Blaue Fabrik" (Blue Factory) environmental program, in Wolfsburg, Germany May 19, 201

© Reuters. FILE PHOTO: A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters during a media tour to present Volkswagen's so called

BERLIN (Reuters) - Volkswagen (ETR:VOWG_p)'s board of management presented a five-year investment plan to its supervisory board on Friday which involves speeding up its electrification plans, the carmaker said in a statement, confirming an earlier Reuters report.

"The Volkswagen Group has sharpened its product strategy and defined a clear roadmap for software and platforms. This includes accelerating the electrification of its plants and focusing its activities on the most attractive profit pools," the statement said.

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