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VW announces major push to electric vehicles to counter new rivals

Volkswagen CEO Matthias Mueller, left, poses with Herbert Diess, chairman of the board of management of the Volkswagen Passenger Cars brand, next to a VW Budd-e concept car in Geneva, in late February.

FRANKFURT, Germany -- German automaker Volkswagen, which is still struggling from the diesel emissions scandal that broke last year, is shifting to new technologies, especially electric vehicle-related, to counter up-and-coming rivals such as U.S. electric carmaker Tesla Motors and ride-hailing app Uber Technologies.

During a press conference last Thursday to unveil the company's new strategy, CEO Matthias Mueller said size is not an end in itself. "Rather, it follows automatically if we are successful," he said.

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