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autoFebruary 13, 2023

Volkswagen plans more investment in digital services and e-vehicles-

Wolfsburg, Feb. 12 (BNA): German carmaker Volkswagen is planning to expand digital services and electromobility, the supervisory board said as it weighed investments for the next five years after the discussions were delayed due to IT development problems.

The board plans a 'clear roadmap for software and platforms' to expand digitization and electromobility, the board said, without releasing the final details, dpa reports.

The board also wants to improve profitability, with plans to ensure activities are focused 'on the most attractive profit pools.'

Trouble with software development led chief executive Oliver Blume to postpone these planning discussions, usually held in November.

He plans to revamp the strategy of his predecessor Herbert Diess and set out more binding targets.

The delays at VW were partly due to IT subsidiary Cariad, which is to develop its own automotive software, had been subject to expensive delays.

Opposition also came from influential subsidiaries Audi and Porsche concerning the approach in the past.

VW is now set to present its investment and model plans along with its 2022 annual figures on March 14, the carmaker said.

All eyes are on the most important project in the medium term, the fully digital Trinity model.

The board members also nominated a new member, Gunter Horvath. He is to take over the position of Louise Kiesling, who died in December.

The niece of former VW patriarch Ferdinand Piëch was seen as a mediator between the Porsche and Piëch families, who are majority shareholders in the group via the Porsche holding company.