Volkswagen to cut spending by $1.1 billion amid diesel scandal

1 min read 13 Oct 2015, 04:11 PM IST

Naomi Kresge

Volkswagen will switch to a different technology for treating diesel emissions in Europe and North America

Volkswagen to speed up other cost cuts in the wake of a diesel emissions-cheating scandal. Photo: Abhijit Bhatlekar/Mint

Berlin: Volkswagen AG said it would reduce investment spending at its main passenger-car brand by €1 billion ($1.1 billion) a year and speed up other cost cuts in the wake of a diesel emissions-cheating scandal.

Volkswagen will switch to a different technology for treating diesel emissions in Europe and North America “as soon as possible," the Wolfsburg, Germany-based carmaker said in an e-mailed statement on Tuesday. Bloomberg

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Published: 13 Oct 2015, 04:11 PM IST

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