Volkswagen Says EV Shift Will Continue Under New CEO

Volkswagen said that its new chief executive would continue the company’s ambitious shift toward electric vehicles, as investors questioned how the ousting of CEO Herbert Diess would affect strategy.

Europe’s biggest car maker by sales posted results Thursday that beat expectations, despite a drop in second-quarter profit. VW reaffirmed its outlook for the year on the back of an improving supply-chain situation and rising demand for cars. VW’s German-listed shares traded around 2% higher following the results.

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