German prosecutors could wrap up an investigation into alleged market manipulation by senior VW Group executives this year, the officials said, after ordering the automaker to pay 1 billion euros to settle claims of emissions cheating.
Volkswagen's top managers must commit to faster decision-making and working more closely together to push the company firmly beyond a diesel-emissions scandal and maintain its industry leadership amid wrenching technological change, CEO Herbert Diess told 400 top managers.
VW plans to shut down production at its Wolfsburg, Germany, factory during September because of the switch to WLTP emissions-testing standards. VW builds the Golf, Tiguan and Touran models in the plant.
VW has packed its new Touareg with the latest high-tech equipment available, including thermal imaging, a head-up display projected directly onto the windshield, and a fully digital cockpit with two large screens, making the SUV the brand's most advanced model to date.
Forcing former VW Group CEO Martin Winterkorn to pay for at least some of the 25 billion euros ($29.9 billion) stemming from the diesel scandal could backfire on the automaker and even drag other top executives -- Chairman Hans Dieter Poetsch and new CEO Herbert Diess -- into the fray.
VW CEO Herbert Diess has been granted safe-passage by U.S. authorities and advance notice if prosecutors seek to charge him, Bloomberg reported. The U.S. has already filed charges against ex-CEO Martin Winterkorn.
VW Group is on track for profitable growth this year in all regions thanks to positive sales momentum at the start of 2018, CEO Herbert Diess said. The executive said the company needed to "speed up" in regard to rapid industry changes and heightening competition, especially in China.
Elevated to the top job at Volkswagen Group last week, Herbert Diess has a reputation for delivering on his restructuring targets — and high on his to-do list is ending the string of losses in the United States.
VW Group's top labor representative, Bernd Osterloh, has backed the choice of Herbert Diess as the automaker's new CEO. In the past, Osterloh has accused Diess of betraying workers and trying to use the diesel scandal as a pretext for pushing through job cuts.
New VW Group CEO Herbert Diess said he will consider asset sales and pledged to speed up the automaker's decision-making as it confronts a seismic industry change in technology while moving beyond its diesel-emissions scandal.