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VW Phaeton goes out of production, Transparent Factory to become electromobility showcase
The last Volkswagen Phaeton has rolled off the assembly line at the company's Transparent Factory in Dresden. The final model was a black Phaeton 4MOTION which was equipped with a 4.2-liter V8 engine that produces 335 horsepower. The fate of the car remains unclear but the Phaeton was originally introduced 14 years ago to help the brand move upmarket. The model failed to catch on with consumers and it was quickly yanked from the United States lineup.
Volkswagen Group of America CEO Michael Horn resigns
The Dieselgate scandal has apparently claimed another victim as Volkswagen has announced the departure of Volkswagen Group of America President and CEO Michael Horn. In a statement released minutes ago, Volkswagen AG said the departure was a result of a "mutual agreement." The company declined to elaborate but noted Horn will be leaving effective immediately. Horn will be replaced by Hinrich J. Woebcken who will serve as Volkswagen Group of America President and CEO on an interim basis. Woebcken's name might not sound familiar but he has been serving as the Chairman of Volkswagen Group of America.
