The diesel-gate controversy got Volkswagen in a huge trouble last year which resulted in a massive recall and buyback of its vehicles. The Volkswagen Group is reportedly looking at fines of up to USD 18 billion for violating US diesel emission norms since 2009. The car maker is currently working on new four-cylinder petrol and diesel engines post dieselgate scandal to power its current range of products without violating environment norms. The fiasco will haunt the car maker for years as the company continues to bleed funds over recall and buybacks. However, the Volkswagen Group now plans to offer sustainable mobility with its future program, “TOGETHER – Strategy 2025”.
Dieselgate : Volkswagen CEO assures a speedy solution
The new Group strategy comprises a raft of far-reaching strategic decisions and specific initiatives essentially aimed at safeguarding its long-term future. This goal will be achieved by transforming the core automotive business, rapidly establishing a new mobility solutions business that will be aimed at significantly increasing efficiency as well as strengthening innovation power and entrepreneurial mindset and approach in the Company.
Explaining the new strategy at a presentation in Wolfburg, CEO Matthias Müller said that Volkswagen’s aspiration is to continue its success story and this will require the car maker – following the serious setback as a result of the diesel issue – to learn from mistakes made, rectify shortcomings and establish a corporate culture that is open, value-driven and rooted in integrity.
The new Group strategy will center on transforming Volkswagen’s core automotive business. Volkswagen will sharpen the positioning of the Group brands and optimize the vehicle and drivetrain portfolio to focus on the most attractive and fastest-growing market segments.
The car maker will lay special emphasis on e-mobility. The Group intends to launch more than 30 purely battery-powered electric vehicles over the next ten years, a segment which is estimated to account for around a quarter of the global passenger car market. The Volkswagen Group forecasts that its own BEV sales will be between two and three million units in 2025. Moreover, Volkswagen Group is also plans to develop battery technology as a new competency.
Do you think that the new strategy will help the car maker to overcome the dieselgate fiasco in the near future? Let us know your views about Volkswagen’s TOGETHER – Strategy 2025 through the comments section below.
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