July 2, 2018 / 1:56 PM / 2 months ago

Volkswagen components business to become independent entity

FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE) said its components development and manufacturing business would become an independent entity within the group from January 2019, alongside the VW Passenger Cars business and Volkswagen Commercial Vehicles.

FILE PHOTO: The logo of Volkswagen is seen at their plant in Wolfsburg, Germany, April 12, 2018. REUTERS/Fabian Bimmer/File Photo

It said the goal of its reorganization was to prepare the components business for the challenges of electric mobility.

Reporting by Maria Sheahan; Editing by Douglas Busvine

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