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Volkswagen To Invest In Electric Vehicles in China
Shares in German carmaker Volkswagen are trading almost 3% higher pre-market on Monday. The market continues to digest the news that VW, along with three joint ventures, will invest around $17.44 billion in electric car access in China between now and 2024.
Volkswagen announced that itself and FAW Group, SAIC Motor and JAC, will manufacture a range of 15 different battery-electric or plug-in hybrid models in China by 2025. VW, which is based in Wolfsburg, said that it will commence manufacture of the electric vehicles using its established MEB architecture at two Chinese factories beginning next month.
Volkswagen To Pay Compensation Over Brazil Collusion
The company was recently in the headlines over reports that it had agreed to pay out compensation to former workers in Brazil. These workers had suffered during the military dictatorship there during the 1960s–1980s.
The results of an investigation commissioned by the Brazilian governm...
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