Scandal-hit VW launches a plan called 'TOGETHER - Strategy 2025'

Scandal-hit VW launches a plan called 'TOGETHER - Strategy 2025'

Beleaguered German automaker Volkswagen (VW) -- which is grappling with a diesel-emissions cheating scandal since September 2015 -- has announced the launch of a plan called ‘TOGETHER - Strategy 2025.’ The plan was launched by VW Group’s CEO Matthias Mueller this week.

Announcing the ‘TOGETHER - Strategy 2025,’ Mueller said that the plan would fund "the biggest change process in the company's history" with an efficiency drive, which would include the integration of components businesses that presently employ 67,000 people in 26 locations across the world.

The launch of the plan comes at a time when VW is still recovering from the diesel-emissions cheating scandal, the biggest business crisis to have hit the company in its 79-year history. The automaker has earmarked an amount of $18 billion to cover the costs involved in dealing with the scandal.

Nonetheless, despite the scandal, VW plans to launch more than 30 electric vehicles on the market by the year 2025. The company projects that electric vehicles will likely account for 2-3 million unit sales in the next ten years.

In announcing the launch of VW’s ‘TOGETHER - Strategy 2025,’ Mueller said: "The Volkswagen Group will be more focused, efficient, innovative, customer-driven and sustainable - and systematically geared to generating profitable growth."