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A federal judge has extended the deadline for Volkswagen AG and environmental regulators to finalize a diesel emissions settlement until June 28.
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Volkswagen will invest $11.3 million to build a parts distribution center and training center in California as part of an initiative to invest more than $7 billion in North American operations through 2019, the automaker announced.
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Volkswagen has embarked on a new electrification strategy in the wake of the diesel emissions scandal and set a goal to sell between 2 million and 3 million fully electric vehicles a year by 2025.
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Some new vehicles still contain defective Takata air bag inflators, which will be recalled by the end of 2019.
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Volkswagen will be making a $300 million strategic investment in Gett, a global ride hailing service provider. This partnership is based on a joint growth strategy to expand on-demand mobility services in Europe.
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Volkswagen is making progress in its negotiations with the federal government to work out the details of a settlement that would compensate owners of nearly 600,000 diesel-powered vehicles that included emissions cheat software.
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The recall covers 366 luxury SUVs manufactured from July 7, 2015, to March 3 of this year.
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General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, according to a Bank of America Merrill Lynch analyst.
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Volkswagen took another step toward announcing its new mid-size SUV, after workers at its Chattanooga, Tenn., plant assembled the first metal test body, the automaker announced.
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Volkswagen has agreed to give buyers of nearly 600,000 vehicles with emissions cheating software the option of selling the cars back or getting them fixed, a judge announced April 21.
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