The carmaker plans to invest proceeds into transforming auto production as it readies to launch electric vehicles.
Workers backed the restructuring after the automaker presented its new $1.1 billion battery plan.
The world’s largest automaker announces a $40 billion spending plan that will accelerate its shift away from combustion-engine vehicles.
The automaker's latest writedown brings the total bill from its diesel emissions cheating scandal to more than $30 billion.
AutoGravity’s finance chief analyzes huge amounts of customer data to set strategy.
The automaker is in "advanced discussions" over an agreement that would further extricate it from the diesel emission cheating scandal.
The acquisition of PayByPhone gives the automaker "a charter to focus on general mobility services.”
The carmaker is still hoping to return to the bond market as it continues to deal with the fallout from its emissions scandal.
VW calls the approval of the deal with 475,000 vehicle owners "an important milestone in our journey to making things right in the United States."
The loss reflects VW's writedown of $18.2 billion for costs related to the scandal and analysts predict the final number could reach $32 billion.
"The emission crisis might cause lasting damage to VW’s once-solid reputation with adverse effects on its future earnings and cash flows," says Moody's.
The agency says software installed in nearly half a million diesel cars enabled them to pass emission standards.
