In an effort to rebound from its emissions-cheating scandal, Volkswagen, according to excerpts of a speech at an internal management meeting on this Friday at the carmaker’s Wolfsburg, Germany, headquarters, will unveil a new strategy in mid-June, a strategy that can be generalized as to abandon old habits like centralized decision-making and to be more open to cooperation with other companies, a strategy on which 250 employees are working and a strategy that will comprise eight key initiatives across the group through 2025.
VW has pledged to accelerate efforts to become more nimble as it seeks to move beyond the worst crisis in its corporate history. The scandal erupted eight months ago, when Volkswagen admitted to rigging software on as many as 11 million diesel cars worldwide to pass emissions tests.
The manipulation has sent shock waves across the industry, and triggered VW’s first annual operating loss since 1993. The company has set aside 16.2 billion euros ($18.2 billion) for car repairs, fines and lawsuits, and it needs to hammer out a settlement by June 21 with U.S. authorities on what to do with vehicles there and how to compensate for the pollution caused.
In addition, VW plans to establish a new business unit that will focus on mobility services as technology companies plot inroads in the automotive industry, forcing global car manufacturers to look beyond just producing and selling vehicles.
“The focus of our Strategy 2025 will be the customer with his wishes and needs,” Matthias Mueller, the CEO of Volkswagen, said. “In the end, a strategy is only good if it leads to products that excite people and that they want to buy.”