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Volkswagen eyes global electric-car lead by 2025

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Volkswagen AG plans to widen cost-saving efforts and standardize critical technologies as the German manufacturer seeks to rival Tesla Inc. on electric cars and keep traditional rivals at bay, Report informs, referring to

VW targets 1 million electric-vehicle sales this year and aims to become the global EV market leader by 2025 at the latest, the company said Tuesday. By 2030, the share of fully electric vehicles in Europe is set to rise to as much as 60% of its deliveries.

“We think that we can prove this year that we are strong in EV,” Chief Executive Officer Herbert Diess said in an interview with Bloomberg Television.

Europe’s largest automaker is overhauling its sprawling operations to free up funds for new technologies as it plans to build the industry’s largest fleet of electric vehicles. The company introduces several new battery-powered models, unveiled Europe’s boldest battery-production push, and struck a deal with unions to cut more German jobs.

VW’s preference shares rose as much as 5% in Frankfurt to 204.50 euros, the highest intraday since July 2015. The Wolfsburg-based manufacturer is now valued at about 117 billion euros ($139 billion).

VW said it would use a “platform” approach to leverage economies of scale and raise the efficiency of deploying technologies, including software, batteries, and charging infrastructure.

The company plans to bolster its software operations to 10,000 staff as it develops automated-driving features and in-car operating systems. The hiring push would make VW one of Europe’s largest software firms behind SAP SE, improving its chances of catching up to Tesla and counter the existential risks posed by the automotive ambitions of Apple Inc. and Alphabet Inc.

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New CEO appointed to Azercell Telecom

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Zarina Zeynalova has been appointed Chief Executive Officer of Azercell Telecom LLC, Report informs.

Zarina Zeynalova holds a post-graduate diploma in People Management & Development from Nottingham Trent University in the UK. She is a Fellow Member of the Chartered Institute of People Management and Development (CIPD). She is a graduate of the Executive Management Development Program at Texas A&M University, USA. She holds a B.Sc. degree from Azerbaijan Medical University.

Z. Zeynalova has over 25 years of professional experience in management and organizational development across multiple geographies of the world. For 20 years she has held various management positions in BP offices in Azerbaijan, UK, and the US. She also held senior management positions at PricewaterhouseCoopers (PwC) and Pasha Construction Group.

Note that the former head of Azercell Telecom LLC, Vahid Mursaliyev left his post due to the expiration of his contract.

The main priority of the new CEO of Azercell will be to ensure a leading position in the field of digital transformation in Azerbaijan, along with the development of the communication activities of Azercell.

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Oil prices go up 

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The oil prices, which fell this afternoon, rose again during the evening auctions.

Report informs that Brent crude for June delivery went up 0.12 percent to $66.86 a barrel, WTI June crude futures surged 0.22 percent to $63.33, while May futures climbed 0.17 percent to $63.24 a barrel.

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WHO extends emergency mode due to coronavirus

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The World Health Organization (WHO) has extended the global emergency regime due to the COVID-19 pandemic for another three months.

The decision was made after the Committee on Emergency Situations of the WHO International Health Regulation (IHR) discussed the situation at the 7th meeting.

"The WHO Director-General accepted that the COVID-19 pandemic still remains a Public Health Emergency of International Concern (PHEIC) and agreed with the committee's recommendations," the statement reads.

So far, 142 million people worldwide have been infected with the coronavirus, and more than 3 million of them have died.

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