"The VW brand is facing tremendous challenges," VW brand R&D
chief Frank Welsch said on Wednesday, citing the carmaker's push
into zero-emission technology.
Top executives and labor leaders are aiming to agree a
cost-cutting plan and strategy for the VW brand's operations in
Germany in time for a meeting of the carmaker's supervisory
board on Nov. 18 to ratify future spending plans.
The decision follows a similar move by VW's luxury flagship Audi
which last week announced it was pulling out of the World
Endurance Championship and the Le Mans 24 Hours race.
(Reporting by Andreas Cremer; Editing by Christoph Steitz)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
![](column_spacer.png) |