VW said it would put only the latest and “best environmental technology” in diesel vehicles.
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Volkswagen will cut investment plans at its biggest division by 1 billion euros ($1.1 billion) a year and step up development of electric vehicles, it said Tuesday, as it battles to cope with the fallout from its cheating of diesel emissions tests.At 11:20 GMT, Volkswagen shares were down 1.4 percent at 107.05 euros.In November, Volkswagen announced 85.6 billion euros of investments across the group between 2015 and 2019, with half earmarked for modernizing and expanding the model range.Volkswagen said last year it planned to increase cost savings at the VW division, where profit margins lag much of the rest of the group as well as major rival Toyota, to 5 billion euros a year by 2017 .
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