VW to scrutinize spending on future investments, warns workers

The emissions-cheating scandal engulfing VW should prompt local government officials from approving an amended tax break agreement with a key VW-Chattanooga supplier, according to a local good government watchdog.
The emissions-cheating scandal engulfing VW should prompt local government officials from approving an amended tax break agreement with a key VW-Chattanooga supplier, according to a local good government watchdog.
photo Newly appointed Volkswagen CEO Matthias Mueller speaks during a press statement after a meeting of Volkswagen's supervisory board in Wolfsburg, Germany, Friday, Sept. 25, 2015, after CEO Martin Winterkorn resigned on Wednesday amid an emissions scandal. (AP Photo/Michael Sohn)

Volkswagen's new CEO has told more than 20,000 gathered workers in Wolfsburg, Germany, that the company will have to review planned investments and that overcoming its emissions-rigging scandal "would not happen without pain."

Matthias Mueller vowed today that "we will overcome this crisis" but said that the company would have to be more careful about costs.

He told the meeting at the company's sprawling home plant that the company would have to put its future investments in plants, technology and vehicles "under scrutiny" to spend only what was needed to maintain a leading edge.

In Chattanooga, VW has said it will invest more than $600 million at its Chattanooga plant to build a new sport utility vehicle with plans to hire 2,000 more workers. Production on the SUV is slated to start in a little more than a year.

VW officials have said so far that there's no change at the Chattanooga plant.

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