Volkswagen to Cut Spending by $1.1 Billion Amid Diesel ScandalBy and
Volkswagen to shift diesel vehicles to alternative technology
VW Phaeton to be redesigned as electric-powered sedan
Volkswagen AG will reduce annual investment by about 1 billion euros ($1.1 billion) at its namesake car brand as the automaker steps up a cost-cutting push to weather the impact of the diesel-emissions scandal.
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