GM buys Vw sports cars September 10, 2021 September 10, 2021 admin

The automaker on Wednesday said it had bought a majority stake in Volkswagen Group, the world’s largest automaker.

The company said it would sell the majority stake to its shareholders in the US and European Union.

The deal was announced by General Motors CEO Mary Barra and Volkswagen CEO Martin Winterkorn.

The automaker said it planned to use the proceeds to fund research into new technologies that would improve safety and efficiency in the global auto industry.

It said it is expected to report earnings in October.

Volkswagen has been under fire for its diesel emissions scandal.