Volkswagen to seek 3 billion euro savings between 2020 and 2023

Image
Reuters FRANKFURT
Last Updated : Dec 06 2018 | 4:45 PM IST

FRANKFURT (Reuters) - German carmaker Volkswagen on Thursday said it will extend a cost savings and efficiency programme at its core brand beyond 2020 and seek an additional 3 billion euros in cost savings by 2023.

The German carmaker said that talks with Ford about extending a potential alliance beyond commercial vehicles continue and remain constructive.

Volkswagen said it could cooperate in the area of electric and autonomous cars and that it had plans to increase the number of cars on offer to clients in the United States by at least two sports utility vehicles.

VW will also make electric cars in the United States in the medium term, although no decision has been made about the production site, the carmaker said at a press conference in Wolfsburg, Germany.

(Reporting by Edward Taylor; Editing by Riham Alkousaa)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 06 2018 | 4:32 PM IST

Next Story