December 6, 2018 / 11:05 AM / 6 months ago

Volkswagen to seek 3 billion euro savings between 2020 and 2023

The logo of Volkswagen is seen during the 88th International Motor Show at Palexpo in Geneva, Switzerland, March 6, 2018. REUTERS/Denis Balibouse/Files

FRANKFURT (Reuters) - German carmaker Volkswagen on Thursday said it will extend a cost savings and efficiency programme at its core brand beyond 2020 and seek an additional 3 billion euros in cost savings by 2023.

The German carmaker said that talks with Ford about extending a potential alliance beyond commercial vehicles continue and remain constructive.

Volkswagen said it could cooperate in the area of electric and autonomous cars and that it had plans to increase the number of cars on offer to clients in the United States by at least two sports utility vehicles.

VW will also make electric cars in the United States in the medium term, although no decision has been made about the production site, the carmaker said at a press conference in Wolfsburg, Germany.

Reporting by Edward Taylor; Editing by Riham Alkousaa

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