Volkswagen is turning over a new leaf after getting involved in a global emissions controversy late last year by announcing that it will be shifting its ‘global components business’ in order to accommodate plans to manufacture and sell electric vehicles.
"Transforming the core business also encompasses systematically promoting an entrepreneurial mindset and approach in the Group. Alongside gradually implementing the model line organization at the Group brands, this primarily involves realigning the components business. The Volkswagen Group hopes that realigning the components business will strengthen competitiveness, increase efficiency and make significant contributions to future topics such as the e-mobility initiative," the company said in a statement.
Currently, Volkswagen’s components business employs some 67,000 employees at 26 locations around the world.
The goal of Volkswagen is to gradually move away from fuel-powered vehicles by starting to offer electric vehicles.
Volkswagen’s initial goal is to introduce 30 new electric vehicles by 2025.
This shift in the company’s business plan is the biggest in Volkswagen’s history.
“Volkswagen has always enriched the lives of millions of people all over the world with its brands and products. Our aspiration is to continue that success story and play a leading role in shaping auto-mobility for future generations, too. This will require us – following the serious setback as a result of the diesel issue – to learn from mistakes made, rectify shortcomings and establish a corporate culture that is open, value-driven and rooted in integrity,” said Volkswagen CEO Matthias Muller.