- Volkswagen's ( OTCPK:VWAGY ) software unit Cariad will be streamlined in efforts to step up the pace of software development, Dirk Hilgenberg, the head of the unit, told the Frankfurter Allgemeine Zeitung newspaper on Monday, according to Reuters report .
- "The time for unanimous decisions is over, because that's not how we get horsepower on the road," said Hilgenberg, adding: "We have now established processes in which the roles are clearly distributed and Cariad is trimmed for speed."
- Cariad, a core part of Volkswagen's plans to catch up with Tesla in coming years, has been wrestling with difficulties for a while, causing important projects to fall behind schedule and Porsche and Audi models to start up later.
- Last month, Siemens to invest $100M-plus in Volkswagen's U.S. EV charging network .
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Volkswagen's software unit to be streamlined, Cariad Head tells FAZ newspaper - Reuters report