Volkswagen Going Electric To Overcome Emission Scandal

Posted: Oct 14 2015, 5:00am CDT | by , Updated: Oct 14 2015, 5:22am CDT, in News | Cars & Vehicles

Volkswagen Going Electric to Overcome Emission Scandal
Credit: Getty Images
  • Volkswagen taking major steps to overcome the recent scandal!

Don't Miss: This How to find Fingerlings in Stock

Volkswagen will limit investments, cut costs and focus on the Electric vehicle project in the wake of the diesel emission scandal.

On Tuesday Volkswagen announced its future action plans. The steps will be taken by Volkswagen to ensure a step into the future. The move seems essential since Volkswagen has suffered considerably after its diesel emissions scandal.

According to Volkswagen they are going to limit their investment plans to save losses. Investment plans will be cut by 1 billion Euros a year. The investment plans will be limited at Volkswagen’s biggest division.

Similarly Volkswagen also announced its plan to focus on its Electric vehicle project. Since it was found out Volkswagen had been cheating on diesel emission tests the company has suffered considerably.

The scandal saw a steep downfall in the market value of Volkswagen. The fall has also affected the German economy, since Volkswagen was a major source of income. Analysts have predicted one solution is the introduction of an electric vehicle. An electric hybrid by Volkswagen could be the turning point for the company. More focus on the EV project may help Volkswagen in overcoming the crisis.

Volkswagen will also be cutting costs by refraining from investment plans. Volkswagen will face additional costs of up to $35 million for the replacement of diesel engines. The company will also stop making the money-losing Phaeton luxury saloon.

The Saloon came with a price tag of $70,000. If the Saloon ever comes back into the market it will be as an EV. Previously Volkswagen had announced it will spend 85.6 Billion Euros in investments by 2019. But now the investments may not ever come to fruition.

Holiday Gift Guides and Deals

Get your Holiday gifting inspired by Best Toy Gifts with High STEM Value and the Top 10 toy gifts under $10 if you are on budget. The most popular Holiday 2017 toy list include Fingerlings, Crate Creatures and more. Don't miss the new Holiday deals on Amazon Devices, including $29.99 Fire tablet.

This story may contain affiliate links.

This free App Solves You Holiday Shopping Problem

Download the free Tracker app now to get in-stock alerts on Fingerling, Luvabella, SNES Classic and more.

Latest News


The Author

M. Affan covers the hottest news that captivate the web today.




comments powered by Disqus