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VW SCANDAL: Board reduces spending by €1bn a year as electric future beckons

Car Dealer Magazine by Car Dealer Magazine
October 14, 2015
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THE Volkswagen Group is to reduce spending by €1 billion (nearly £742m) a year and refocus its development programme to put an emphasis on an electric future.

Announcing the strategy following the diesel emissions scandal, the newly-appointed VW board has overhauled the diesel range, with cars fitted with selective catalytic reduction and AdBlue to be solely offered in future.

It added that only diesels equipped with exhaust emissions systems that use the best environmental technology would now be sold.

The brand is now focusing on the development of electric powertrains, particularly plug-in hybrids with greater range, mass-made electric vehicles with a range of up to 186 miles, and a 48-volt power supply system.

VW also says it will design a new modular electric tool kit suitable for multiple brands in the group. It is intended for both passenger and light commercial vehicles of all body types and will have a range of 155 to 310 miles.

The showcase for this new direction will be a reimagined Volkswagen Phaeton, believed to be pitched as an all-electric rival for the Tesla Model S. The new flagship model is expected to reach production by the end of the decade.

Chief executive  Dr Herbert Diess said: ‘We are very aware that we can only implement these innovations for the future of the Volkswagen brand effectively if we succeed with our efficiency programme and in giving our product a range of new focus.

‘Together with my board of management colleagues and the entire team we are working at top speed on these issues. Time and again, the Volkswagen team has proved it stands united and is fully focused on shaping the future, particularly when times are tough. We have now laid the further foundations for that.’

MORE ON VW SCANDAL:

UK boss admits ‘defeat device’ was used in European emissions tests

EIB could withdraw funds as hardware changes needed

UK’s VW boss to face MPs next week

US boss admits company was informed last year

Vehicles recalled from January as rebuild process begins

Muller warns of ‘painful’ cuts

Investigation widened to include other brands

Ford and BMW defend German car industry

UK owners won’t be hit with tax rise

Car supermarket slashes German vehicle prices

Thousands of vehicle sales are halted in UK

Almost 1.2 million vehicles affected in UK

Values ‘marginally affected’ by emissions

700,000 Seat cars fitted with emissions test ‘cheat’ software

Winterkorn facing probe by German prosecutors

Audi reveals more than 2m of its cars worldwide have ‘cheat’ software

Switzerland bans sale of diesel Volkswagens

Carmaker admits diesel scandal affects VW Group vehicles

Confusion among VW dealers

Government was warned about emissions testing

Department for Transport launches emissions investigation

CAP predicts no impact on Volkswagen residual values

Skoda, Seat and Audi dealers braced for bad news

UK businesses hit by ripple effect

Biggest UK lawsuit could be on the cards

VW just tip of the iceberg amid claims tests are open to abuse

Winterkorn resigns

SMMT calls for calm

Audi and VW brand ‘damaged’

Chief executive ‘could lose his job’

VW faces billions in fines

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