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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Volkswagen AG | TG:VOW | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.80 | 0.60% | 133.40 | 132.90 | 133.80 | 134.00 | 132.40 | 133.10 | 4,290 | 22:50:02 |
From May 2019 to May 2024
By Max Bernhard
Volkswagen AG (VOW.XE) said Wednesday that it has appointed Bjoern Goerke as chief technology officer of its software business unit Car.Software.
Mr. Goerke previously was chief technology officer and head of SAP SE's (SAP.XE) cloud platform business. The appointment is effective from Jan. 1.
Mr. Goerke will define a "cross-brand standard for the software architecture of the connected vehicle and digital ecosystems," the German car maker said.
Volkswagen plans to significantly boost the share of software that it develops in house, to more than 60% from less than 10% currently.
By 2025, the company plans to invest more than 7 billion euros ($7.8 billion) in the Car.Software division. By standardizing software across its brands, Volkswagen aims to cut the costs of software per vehicle, it said.
Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard
(END) Dow Jones Newswires
December 18, 2019 06:14 ET (11:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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