FRANKFURT, Germany (AP) – German automaker Volkswagen plans to ramp up its offerings of electric vehicles as it fights to bounce back from a scandal over diesel cars rigged to cheat on emissions tests.
The electric campaign is part of a wide-ranging review of the company’s strategy that also includes making the company’s management more open and trustworthy.
CEO Matthias Mueller said Thursday the company plans to introduce more than 30 electric-powered vehicles by 2025, and to sell 2 to 3 million of them a year.
Mueller made the statement as the company made public the results of a prolonged soul-searching triggered by the scandal that erupted in September 2015. The new plan, dubbed “Together – Strategy 2025” includes a focus on digital mobility, which could include things like as car- or ride-sharing apps; more open management; and stronger profitability.
In particular, the company also set as a goal increasing the profitability of the core Volkswagen brand, which is barely making money. Mueller said the company intended to increase operating profit margins from the current 6 percent to 7-8 percent by 2025.