Mueller said his overhaul would require a “double-digit billion” investment.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Volkswagen will invest more than 10 billion euros ($11 billion) by 2025 in areas such as electric cars and ride-hailing as it seeks to reshape its business in the wake of its emissions-test cheating scandal, it said Thursday.Volkswagen is battling to recover from the biggest business crisis in its 79-year history after admitting in September to cheating U.S. diesel emissions tests.Spelling out a new strategy ahead of its annual shareholder meeting Wednesday, the company said it planned to launch more than 30 electric vehicles over the next 10 years, forecasting they would account for 2-3 million unit sales in 2025, compared with a tiny number currently.Volkswagen said its new plan aimed to improve its operating return on sales before one-off items to 7-8 percent by 2025 from 6 percent in 2015, and the return on capital employed in its automotive division to more than 15 percent from 13.8 percent.
FOLLOW THIS ARTICLE