VW’s Porsche to stop offering diesel models: Bild am Sonntag

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By Christoph Steitz

FRANKFURT (Reuters) – Volkswagen’s (DE:VOWG_p) Porsche will stop offering diesel versions of its cars, the unit said on Sunday, sharpening its focus on hybrid and battery-powered vehicles instead.

Volkswagen has admitted to deliberately cheating diesel emissions tests, sending shockwaves through the automotive industries and causing a sector-wide crackdown on polluting diesel engines.

As a result, carmakers around the world have ramped up spending on the development of electric cars, hoping to catch up with pioneer Tesla (O:TLSA).

“Porsche is not demonizing diesel. It is, and will remain, an important propulsion technology,” Porsche Chief Executive Oliver Blume said in a statement.

“We as a sports car manufacturer, however, for whom diesel has always played a secondary role, have come to the conclusion that we would like our future to be diesel-free.”

Read more at : https://www.investing.com/news/stock-market-news/vws-porsche-to-stop-offering-diesel-models-bild-am-sonntag-1620200

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