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VW Vows to “Reinvent” Itself by 2020
Volkswagen AG CEO Martin Winterkorn says the company will debut 20 new electric and plug-in hybrid vehicles over the next five years as it transforms its cars into "smartphones on wheels."
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Volkswagen AG CEO Martin Winterkorn says the company will debut 20 new electric and plug-in hybrid vehicles over the next five years as it transforms its cars into "smartphones on wheels."
"We are in the process of reinventing Europe's largest automaker," he declares, adding that technological leadership in the auto industry "is no longer solely defined in terms of horsepower and torque."
Winterkorn refers to VW's plan to infuse its cars with advanced communications, safety and self-driving capabilities. Virtually all its competitors are pursuing similar strategies.
Still, VW Group won't be ignoring the hardware side of its products. If anything, the company's vehicles at all price points will become more technologically advanced for the sake of improved efficiency.
Winterkorn notes the group is developing a low-cost car for first-time buyers in emerging markets and will unveil improved versions of its Audi A4 sedan, VW Tiguan small crossover and Porsche 911 sports car today at the Frankfurt auto show.
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