Volkswagen Not Keen On New Combustion Engine For Its Golf Car: Report - Volkswagen (OTC:VWAGY)

Volkswagen AG VWAGY is reportedly not planning to develop a new combustion engine for its Golf car.
The decision will mark the end of the line for Golf car which was sold since 1974, reported Reuters.
The Golf 8, now in production will be last combustion engine version, with one more series of updates expected in 2024.
"With that, the car is set until the end of the decade. Then we have to see how this segment develops," the report cited brand chief Thomas Schaefer.
Also Read: Volkswagen Plans Production Of 3M Small EVs In Spain During 2025-2030
"If the world develops completely differently than expected by 2026 or 2027, we could develop a totally new vehicle - but I don't think it will. So far that is not expected."
The move shows the carmaker's shift in investment towards electrification.
Volkswagen aims to launch 10 new electric models by 2026.
Price Action: VWAGY shares closed lower by 0.52% at $17.10 on Friday.
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