Dieselgate battle plan for Volkswagen Group

November 04, 2016

The Volkswagen Group board is to hold an extraordinary meeting today to discuss a wide-ranging restructuring plan.

Senior management will meet to agree how to balance the need for investment in new products with cost cuts required to cover billions of euros in liabilities relating to the Dieselgate scandal.

The 20-member panel is due to meet on 18 November to confirm spending plans, but the scale of the challenges facing the business has made the additional meeting necessary.

Among the issues to be discussed is how to rebalance spending to fund the expected consumer shift to electric and autonomous cars.

Cost cuts of billions of euros are needed to pay for the plans and Audi and Porsche are said to be under particular pressure to provide savings.

The cost of the Dieselgate scandal has already led to claims of production changes as updates to some models have been delayed while engineers work on software fixes for cars affected by the Dieselgate scandal. Volkswagen has also reportedly quit the world rally championship in a bid to cut costs.






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