Volkswagen announces it will no longer participate in motorsports

In preparation to shift focus towards electric vehicles and the electric platform, largely in part of its Dieselgate settlement, Volkwagen is shaking things up and cutting costs across the board. The biggest change that the automaker announced is that it will be discontinuing the brand’s involvement in motorsport activities, racing included.

“The Volkswagen brand is on the way to becoming the leading provider for sustainable e-mobility. To this end, we are pooling our strengths and have decided to terminate the Volkswagen brand’s own motorsport activities. The motorsport workforce will be integrated in Volkswagen AG. The deep technical expertise of the motorsport employees and the know-how gained from the ID.R project will remain with the company and will help us put further efficient models from the ID. family on the road”, said Dr. Frank Welsch, Member of the Board of Management with responsibility for the Development Division.

Anexo plc (LON:ANX) is a specialist integrated credit hire and legal services group focused on providing replacement vehicles to consumers who have been involved in a non-fault accident.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Anexo Group plc

More articles like this

Anexo Group plc

Social tenants urged to speak out against rogue landlords

Social tenants are being urged to speak out against ‘rogue’ landlords in the wake of the Awaab Ishak tragedy. A major campaign is being launched today (March 6), pushing the vital message that social landlords must ‘make things

Anexo Group plc

Extend ‘Awaab’s law’ to all rented homes

Oxford City Council says a new law for social landlords to tackle damp and mould should be extended to all rented homes. People living in homes with damp and mould are more likely to have respiratory

Anexo Group plc

Social Housing Disrepair

Social housing providers will be aware of the tragic death of Awaab Ishak and the subsequent coroner’s report into his death. All providers will have received letters from the Regulator and the Secretary of State for

Anexo Group plc

Training camp and race results in Mallorca

The team and staff spent over a week out on the island, well known for being a cycling hotspot, to put themselves to the test in readiness for an action-packed 2023 season. They were joined by

Anexo Group plc

Pre–Season Training Camp Mallorca 2023

With half term coming up, the riders and staff of Anexo Group Race Team are heading out to Pollenca, Mallorca, for a pre-season training camp. They will also be taking part in a spot of racing

Anexo Group plc

Government announces review of damp and mould guidance

In a letter to senior coroner Joanne Kearsley, in response to her ‘prevention of future deaths’ report following the inquest into Awaab’s death, housing secretary Michael Gove said the government will launch a “rapid review” of

Anexo Group plc

British Cycling National Track Championships debut

Fresh from their recent exploits in Apeldoorn, Rowe, Salter, Cosgrove and Fisher made their way to the Geraint Thomas National Velodrome of Wales in Newport for the British Cycling National Track Championships. The riders have recently

Anexo Group plc

Anexo Group trading in line with management expectations

Anexo Group plc (LON:ANX), the specialist integrated credit hire and legal services provider, announced today the appointment of Zeus Capital Limited as Joint Broker, with immediate effect. This follows the completion of the acquisition of Arden Partners plc by

Anexo Group plc

Anexo riders in action in Apeldoorn

Last weekend (January 6 -8), Anexo Group Race Team riders Joe Cosgrove, Elliot Rowe, Sam Fisher and Will Salter travelled to the Netherlands to represent Scotland and Wales. The busy schedule across the three-day Next Generation

Anexo Group plc

NHS Surgery Delays in England – January 2023

The NHS has faced unprecedented challenges in recent years, particularly during the Covid-19 pandemic, leading to strain on services and delays in treatment. Efforts are being made to address this issue, however, it remains a concern