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(Reuters) - Volkswagen expects to double electric vehicle deliveries and increase profits for its core brand this year after the world’s second-largest carmaker stepped up its switch to fully electric vehicles.
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The brand will deliver more than 450,000 electric cars this year, the company said on Wednesday. Volkswagen is targeting 1 million electric vehicle deliveries for the wider group.
The core brand is aiming for a significant year-on-year increase in sales revenue and an increase in profits, VW said.
The group’s preferred stock rose as much as 7% to its highest since June 2015, as institutional and retail investors cheered VW’s efforts to overtake Tesla in the electric car market.
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TOKYO (Reuters) - Shares of Tokyo Electric Power (Tepco) fell the most in eight years on Wednesday after Japan’s atomic regulator found safety breaches at its Kashiwazaki Kariwa station and a government minister said the plant will not restart soon.
FILE PHOTO: An employee of Tokyo Electric Power Co. (TEPCO) looks up at a tank reserved for storing treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan March 1, 2021. REUTERS/Sakura Murakami
Tepco shares had surged in recent months on hopes it would be able to restart Kashiwazaki Kariwa, the world’s biggest nuclear power station, after years of trying to convince regulators and local residents it had learnt the lessons of the Fukushima disaster 10n years ago.
5 Min Read
LONDON (Reuters) - Uber’s proposal to expand benefits to British drivers following a court defeat last month has not put an end to the fight for better gig-worker pay in the UK and around the world, an issue that has become a flashpoint for the labor movement.
On Tuesday, Uber Technologies Inc said it would offer guaranteed entitlements to its more than 70,000 UK drivers, including holiday pay, a pension plan and limited minimum wage.
Uber has said it wants to expand limited benefits similar to those offered to drivers in the UK across all of Europe and the United States.
By Reuters Staff
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FILE PHOTO: A technical employee works at the production line for the electric Volkswagen model ID. 4, in Zwickau, Germany, September 18, 2020. REUTERS/Matthias Rietschel
FRANKFURT (Reuters) - Volkswagen overtook software maker SAP on Wednesday as the most valuable company in Germany’s blue-chip DAX index, as investors warm to the carmaker’s plans to take on Tesla.
Volkswagen shares rose as much as 12%, giving the company a market valuation of more than 136 billion euros ($162 billion), compared with SAP’s 127 billion.
Volkswagen shares have gained 47% year-to-date, supported by a raft of announcements on its electric vehicle expansion strategy, which culminated in a “Power Day” this week including plans to build six gigafactories in Europe by 2030.
3 Min Read
TOKYO (Reuters) - Shares of Tokyo Electric Power (Tepco) fell the most in eight years on Wednesday after Japan’s atomic regulator found safety breaches at its Kashiwazaki Kariwa station and a government minister said the plant will not restart soon.
FILE PHOTO: An employee of Tokyo Electric Power Co. (TEPCO) looks up at a tank reserved for storing treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan March 1, 2021. REUTERS/Sakura Murakami
Tepco shares had surged in recent months on hopes it would be able to restart Kashiwazaki Kariwa, the world’s biggest nuclear power station, after years of trying to convince regulators and local residents it had learnt the lessons of the Fukushima disaster 10n years ago.