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Volkswagen plans renewable investments in CO2 reduction push

Reuters
FILE PHOTO: A Volkswagen logo is seen as it launches its ID.6 and ID.6 CROZZ SUV at a world premiere ahead of the Shanghai Auto Show, in Shanghai

FRANKFURT (Reuters) - Volkswagen plans to invest about 40 million euros ($48 million) in European wind and solar projects by 2025 as part of a push to become carbon neutral, the head of the group's namesake brand said on Thursday.

As part of the initiative, Volkswagen will team up with Germany's top utility RWE for a solar park in 2022 that will have a capacity to supply 50,000 households with power.

($1 = 0.8252 euros)

(Reporting by Christoph Steitz and Jan Schwartz, editing by Emma Thomasson)