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Volkswagen to cut investments by one billion euros per year

Staff writer |
The newly-formed Volkswagen Brand board of management took further strategic decisions at a special meeting. CEO Herbert Diess announced major product decisions.

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There will be a reorientation of the diesel strategy with the most advanced technologies, the development of a standardized electric architecture for passenger cars and light commercial vehicles, and a new approach for the next generation of the Phaeton.

Investments are to be reduced by some one billion euros per year, the efficiency program is to be accelerated.

Diess underscored: “The Volkswagen brand is repositioning itself for the future. We are becoming more efficient, we are giving our product range and our core technologies a new focus, and we are creating room for forward-looking technologies by speeding up the efficiency program.”

It was decided to switch over to installing only diesel drives with SCR and AdBlue technology in Europe and North America as soon as possible. Diesel vehicles will only be equipped with exhaust emissions systems that use the best environmental technology.

There will be a major development thrust for the proven MQB standardized technical toolkit, where Volkswagen Passenger Cars holds responsibility for development within the Group network.

The focus is on plug-in hybrids with an even greater range, high-volume electric vehicles with a radius of up to 300 kilometers, a 48-volt power supply system (mild hybrid) as well as ever more efficient diesel, petrol and CNG concepts.

A new standard with regard to connectivity and driver assistance systems is to be defined.

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