Investing.com - Financial Markets Worldwide
🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

VW to shut coal-fired power stations at main factory to cut CO2

Published 02/14/2020, 05:45 AM
© Reuters. LA Auto Show in Los Angeles
LNKD
-
VOWG_p
-

FRANKFURT (Reuters) - Volkswagen (DE:VOWG_p) is shutting down two coal-fired power stations at its main plant in Wolfsburg, Germany and has declined offers to sell them to cut down the company's carbon dioxide emissions, Chief Executive Herbert Diess said on Friday.

"I have already declined offers from several interested parties who wanted to buy our old Wolfsburg coal plants and rebuild them elsewhere in the world," Diess said in a post https:// on LinkedIn (NYSE:LNKD).

Volkswagen said it is replacing the coal-fired power stations with gas turbine plants, a step which will help cut VW factory's carbon dioxide emissions by 60%, equivalent to the emissions of 870,000 cars.

© Reuters. LA Auto Show in Los Angeles

Seven out of the ten biggest carbon-dioxide polluters in Europe are coal-fired power stations in Germany, Volkswagen said.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.