Business Archives - Page 32 of 33 - British Herald

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Business

VW embarks on $50 billion electrification plan

WOLFSBURG, Germany (Reuters) – Volkswagen <VOWG_p.DE> expects to become the most profitable manufacturer of electric cars thanks to a multi-billion euro expansion plan to mass produce battery driven vehicles, Chief Executive Herbert Diess said on Friday. VW will spend almost 44 billion euros ($50 billion) on developing electric cars, autonomous driving