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Karsten Seifert admits the company hasn’t moved fast enough on delivering EVs here. But a renewed focus on markets outside of Europe will change that for the better.
As early as next year, 4 billion euros are to be saved at the VW core brand, and as much as 10 billion euros by 2026. The return on sales is to increase from 3.4 to 6.5 percent as a result. The price for this doubling of profits will be borne by the workforce.
As part of a three-year plan to improve the brand's sustainability, VW has announced several measures to reduce costs and boost revenue including shorter development times, fewer test car units for technical development and partial retirement schemes.
VW has also said it will look to phase out leather and hard plastics from its cabins
Volkswagen and works council agree to efficiency program.