Volkswagen to reduce investments by EUR 1 billion per year

At a special meeting, CEO Dr. Herbert Diess announced major product decisions: a reorientation of the diesel strategy, the development of a standardised electric architecture for passenger cars and light commercial vehicles, and a new approach for the next generation of the Phaeton. Along with this follows the information that investments are to be reduced by some EUR 1 billion per year. Among other things it was decided that the company will focus on development 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 a 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. An MEB electric toolkit for future use in compact segment vehicles is to be developed based on the experience gained with existing vehicle architectures. The standardised system will be designed for all body structures and vehicle types, and will enable an all-electric range of 250 to 500 kilometers. Dr. Herbert Diess said: “We are very aware that we can only implement these innovations for the future of the Volkswagen brand effectively if we succeed with our efficiency program and in giving our product range a new focus.”