Volkswagen bets on new technology to bounce back from crisis

Volkswagen division head Herbert Diess said that the goal is “to fundamentally change Volkswagen” as it bounces back from a scandal over cars rigged to cheat on diesel emissions tests.

Volkswagen (VLKAY) said Tuesday that it will step-up its presence in the U.S.as part of its turnaround strategy, targeting a leadership position in the production of SUVs and Limousines.

CEO Matthias Mueller said it was "the biggest reform package in the history of our core brand".

Most of the cars bore the Volkswagen logo but vehicles by other VW group companies such as Audi, Seat and Skoda were also affected.

More news: Chelsea returns to top of Premier League after narrow win over Middlesbrough

Talking about the numerical figure based on the total of 30,000 employees getting layed off, the company claims that this would save about 3.9 billion annual expenses, which would be an attempt to regain the loss caused due to emission scandal.

Volkswagen has agreed to pay $15 billion under a settlement with US authorities and auto owners over cars equipped with software that turned off emissions controls under normal driving conditions. Around 11 million cars worldwide have the deceptive software. The scandal has served as a spur for the company to shake up its management culture and address longstanding issues such as the cost question in Germany.

He said regional managers would get "more local responsibility" to make decisions and meet local conditions.

Volkswagen hopes to bounce back from its diesel emissions scandal with a shift in focus to more battery-powered cars, digital services such as ride-sharing, and more SUVs for the USA market. Diess, a former BMW executive, said he planned to focus on the fast-growing and higher-margin SUV market in the United States, with the brand aiming to have 19 SUV models globally by 2020, up from just 2 now. Diess said at group headquarters in Wolfsburg, Germany, that the company expects to sell a million electric vehicles a year by 2025.

More news: NFL kickers miss 11 PAT attempts, most in Super Bowl era

To help cover those damages and the cost of developing battery-powered and self-driving technologies, VW reached a landmark agreement with workers last week, to cut as many as 30,000 jobs worldwide and slash 3.7 billion euros of expenses. Under the terms of the deal, Volkswagen has agreed to keep much of the future investment in new technology in Germany and to rely on voluntary departures such as early retirement, with no firings.

"The next generation of electric vehicles will be made here in Germany, not overseas", Osterloh said.

In addition to the job cuts in Germany, Volkswagen plans to cut jobs in North America, Brazil, and Argentina, although it did not provide further details.

More news: Chris Woakes could be rested for England's second Test against India

Related:

  • Longer study needed on Zika's impact on men's fertility, World Health Organization says

    The formal designation had helped the agency compel countries to report data on Zika cases within their borders. Zika and microcephaly will surface wherever there are vectors that can transmit the disease, the experts said.
    Murray Survives Match Point To Beat Raonic At ATP Finals

    Murray Survives Match Point To Beat Raonic At ATP Finals

    Current world No. 1 Murray fought off a match point and outlasted Milos Raonic of Canada in one of the season's finest matches. Djokovic might just be in better shape after overwhelming Nishikori, who held his serve only once all match .

    Ward pulls off decision win over Kovalev for title

    Starting in round six, Ward's jab and hold strategy began to pay off in dividends as it both scored and flustered the Russian. And Ward at times barreled into Kovalev, as if he had practiced tackling drills during training camp.
  • WWE 'Survivor Series' 2016 results: Match winners, reaction & highlights

    WWE 'Survivor Series' 2016 results: Match winners, reaction & highlights

    However, it is still weird that they chose Shane McMahon to replace Baron Corbin as the fifth member of their team . The WWE Survivor Series 2016 matches are scheduled for the date November 20 at the Air Canada Centre in Toronto.
    Steve Bannon: 'I'm Not a White Nationalist'

    Steve Bannon: 'I'm Not a White Nationalist'

    The controversy surrounding his appointment has been so great that Bannon has even been featured on an episode of South Park . The appointment of Steve Bannon as Trump's chief strategist has sparked rage and protests this week.

    No. 1 overall pick Goff to start for Rams

    For Goff , it was a message he's been waiting to get nearly since the moment he was drafted first overall last April. Veteran Case Keenum has started every game, passing for 2,169 yards with 11 interceptions and nine TDs.
  • Are Bayern Munich really in danger of not winning the Bundesliga?

    Tensions flared with five minutes to go as Franck Ribery clashed with Adrian Ramos, and Renato Sanches was shown a yellow card. But RB Leipzig are top, three points clear of the mighty Bayern, after their thrilling 3-2 win at Bayer Leverkusen on Friday.
    Trump's pledge to kill Obamacare faces reality check

    Trump's pledge to kill Obamacare faces reality check

    Nationwide, some 20 million have signed up for coverage under the law, a formidable hurdle to overcome before overturning the law. Enrollment can vary week to week, and in past years there has typically been a surge of sign-ups near the deadline.
    Former Seattle Seahawks RB Christine Michael signs with Green Bay Packers

    Former Seattle Seahawks RB Christine Michael signs with Green Bay Packers

    Although he's been termed a game-time decision, Jackson is feeling good enough today that he expects that he can go tomorrow. Injuries haven't helped, but the mere presence of two-time NFL MVP Aaron Rodgers makes them formidable.
  • National Basketball Association roundup: Teague, Pacers win in overtime

    Larry Nance Jr. contributed 18 points, six rebounds and three assists off the bench. "We had nothing to lose there", Teague said. Carmelo Anthony matched his season high with 31 points and NY beat Atlanta for its fourth straight home victory.
    Dishonored 2 to Receive New Game+ Mode and Custom Difficulties Next Month

    Dishonored 2 to Receive New Game+ Mode and Custom Difficulties Next Month

    Now, Bethesda Softworks has announced that two new difficulty settings will be heading to the game soon. A release date for the content wasn't provided, but it will arrive sometime in December.
    Six wickets for Colin de Grandhomme on dream debut for Black Caps

    Six wickets for Colin de Grandhomme on dream debut for Black Caps

    Pakistan looked out of sorts on the Christchurch pitch, with captain Misbah ul-Haq top-scoring for the visitors with just 31 runs. Play had been expected to begin at 1100 (2200 GMT), but heavy rain overnight ensured it did not begin as scheduled.

Comments

Latest news

Conway Says Trump's Cooled On His Campaign Promise To Investigate Clinton
In today's Tea Party and post-truth environments, it is going to be hard to replace the Electoral College with a national vote. Since 1988, Wisconsin has been a Democratic state , casting all of its electoral votes toward the Democratic candidate.

One-sided Big 12 showdown: No. 8 Oklahoma routs No. 10 WVU
Oklahoma State won its seventh straight game, improving to 9-2 overall and 7-1 in the Big 12 behind a big second half performance. They covered 69 yards in just four plays while using less than two minutes of clock for their second touchdown.

Vikings host Arizona at 12 Noon Sunday
The plays set a team record, as it was first time in Vikings history that the team had two plays of 100 yards in the same game. Our models are a little less optimistic, projecting Thielen for 50 receiving yards and 0.38 touchdowns on 3 receptions.

Barcelona held by Malaga as Messi misses out through illness
The visitors had Diego Llorente sent off in the 69th minute after fouling Neymar, but Barca could not make the extra man count. Elsewhere, Eibar moved to seventh place by beating visiting Celta Vigo thanks to a ninth-minute goal by Fran Rico.

Nigeria crash out of FIFA U20 Women's World Cup
And in the 72nd minute skipper Chiwendu Ihezuo scored the Falconets second goal to give them their second win of the tournament. Nigeria's left to rue their 6-0 loss to Japan on the opening day as they head home from Papua New Guinea.

France's Sarkozy loses primary with hard-line on immigration
Turnout in the primaries was six percent of eligible voters in French Polynesia and five percent in New Caledonia. Fillon , who had not been considered one of the early favorites, started climbing in the polls in recent weeks.

Coalition to Start 48-Hour Cease-Fire in Yemen
The coalition has destroyed a wide variety of civilian targets that critics say have no clear link to the Houthis . In an apparent bid to prove his legitimacy, the coalition underlined that the ceasefire came at Hadi's request.

Steven Gerrard to turn down MK Dons job
Then, little by little, he was changing his position. "He was playing for us on the right and he was scoring more than 20 goals". Newcastle United boss Rafael Benitez has suggested that he is unlikely to reunite with former Liverpool captain Steven Gerrard.

US President Obama meets Trump at White House; discuss transition, difficulties
They talked about "a lot of different situations, some wonderful and some hard ", Trump said of their policy discussions. Trump said he had "respect for the president" and said they talked about some wonderful and hard things.

WADA fixes date for release of second part of Russian doping report
Mr Putin has axed Deputy Sports Minister Yuri Nagornykh and Ms Natalia Zhelanova, adviser to former sports minister Vitali Mutko. WADA's head Oliver Niggli announced on November 20, the final version of McLaren's report is due to be released on December 9.

Browns Lose to Steelers Again, Kessler Knocked Out with Possible Concussion
On a blustery day, the Steelers turned to their running game and a defense that hasn't been up to Pittsburgh's standards. Either way, FirstEnergy Stadium in Cleveland was a ghost town for the Browns' game against the Steelers on Sunday.

Trump defends settlement in university fraud lawsuits
Everybody sues you because you get known as a settler. "Today, that all changes", Schneiderman said in his statement . Considering how many times Trump has asserted that he doesn't settle cases, that's exactly what he did.

Thanksgiving Week Forecast: Cold Temps and Rain for Chicago Area
The weather is expected to dry up after Monday , so Las Vegans can expect a sunny but chilly Thanksgiving and Black Friday. There's also a chance some bands of snow showers could travel through the Valley so motorists are urged to be use caution.

Cristiano Ronaldo hat trick gives Real Madrid derby win at Atletico
Ronaldo has won two Champions Leagues with Real Madrid , adding to the triumph with Man United in 2007-08. Madrid hasn't won the Spanish league title since 2012.

Volkswagen to shed 30000 jobs to cut costs after scandal
This is in accordance with the fact that the costs in this unit are much higher than various units across the world. With 610,000 workers globally, VW a year ago built slightly fewer vehicles than Toyota which has 350,000 staff.

Other news