VW CEO shifts strategy from empire building to efficiency

FRANKFURT (Reuters) - Volkswagen has abandoned its decades-old obsession with empire building and no-expense-spared engineering to free up resources for the development and mass production of electric cars, its CEO Herbert Diess told Reuters.A global clampdown on toxic exhaust fumes has triggered a new wave of consolidation in the auto industry as carmakers look for ways to slash development costs for low-emission and self-driving technologies. While rivals such as FiatChrysler and Renault ..