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VW to Unveil “Mobility Provider” Strategy
Volkswagen AG CEO Matthias Mueller tells senior managers the company will emerge from its diesel emission scandal with determination to reshape itself into a “mobility provider,” Reuters reports.
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Volkswagen AG CEO Matthias Mueller tells senior managers the company will emerge from its diesel emission scandal with determination to reshape itself into a “mobility provider,” Reuters reports.
Mueller's prepared remarks indicate the plan to achieve the latter goal will be presented in mid-June. The long-term vision reflects the recognition by the auto industry that personal mobility is expanding to include more than traditional private ownership of cars.
In the meantime, VW continues to face significant financial risk from the revelation six months ago that it rigged 11 million diesels to cheat government emission standards. The scandal pushed VW into an operating loss of €4.1 billion ($4.6 billion) in 2015 as the growth in demand for VW vehicles softened.
The company also remains exposed to tens of billions of dollars in potential regulatory fines and legal settlements in the U.S. market alone. Negotiations to resolve those risks continue to dragged on.
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