Volkswagen Group delivered more than 10 million vehicles for the first time in 2014, reaching the annual-sales milestone four years earlier than originally targeted on the back of strong growth in China.
Deliveries, including Porsche and Audi cars and MAN and Scania heavy trucks, rose 4 percent to 10.14 million vehicles last year, the manufacturer said in a statement.
Volkswagen Group will invest up to 500 million euros to modernize and expand its plant in Bratislava, Slovakia, a report said.
Volkswagen approved projects for adding several hundred million euros to earnings in coming years in its effort to almost triple profit margins at the namesake car brand, according to people familiar with the matter.
Volkswagen will oust its head product strategist, Klaus-Gerhard Wolpert, sources said, as the German carmaker is pushing efforts to raise profitability at its core brand dented by high fixed costs and falling sales.
Volkswagen AG bought a stake in battery startup QuantumScape Corp. with the aim of developing technology that can more than triple the range of its electric cars, people familiar with the matter told Bloomberg.
