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Share Name Share Symbol Market Type
Volkswagen AG XE:VOW XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.80 -0.97% 184.05 184.05 184.70 186.85 182.90 186.00 38,410 16:45:00

Volkswagen to Launch Scout Brand EVs as it Aims Increase US Profitability

12/05/2022 8:01am

Dow Jones News


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By Kim Richters

 

Volkswagen AG plans to launch an electric sport-utility vehicle and electric pickup truck under the Scout brand in the U.S., the German car maker confirmed late Wednesday.

The statement came after The Wall Street Journal reported that the auto giant was set to bring back the Scout off-road vehicle brand as part of its bid to expand in the country.

Volkswagen plans to unveil prototypes next year and start production in 2026.

Success in these vehicle segments is a "key lever to increasing profitability in the U.S. and achieving the targeted market share of 10%," Volkswagen said in the statement.

 

Write to Kim Richters at kim.richters@wsj.com

 
 

(END) Dow Jones Newswires

May 12, 2022 02:46 ET (06:46 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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