With an $18.2 billion emissions scandal weighing heavy on its bank balance, Volkswagen is hoping electric cars will offer a brighter future. At a recent press conference, company CEO Matthias Müller unveiled "Together - Strategy 2025," a new initiative designed to put 30 new electric vehicles on the road within 10 years. The idea, Müller says, is "to learn from mistakes made, rectify shortcomings and establish a corporate culture that is open, value-driven and rooted in integrity."
To achieve its aim, Volkswagen will rejig its core businesses, placing a particular focus on "e-mobility." That will include building its own electric batteries -- something that Tesla intends to do -- in the hope that it will sell between two and three million EVs in 2025. Self-driving also forms a big part of those plans, in that it will develop its own "competitive self-driving system (SDS)" and offer it to other companies before the end of the decade.
Volkswagen predicts investment in Strategy 2025 will run into the "double-digit" billions (euros), so to finance that, it needs to either save money or increase revenue. Improving the efficiency of its R&D processes is one thing it's singled out, as is driving down the cost of its sales and admin departments. It's not clear whether the company will be able to do so without seriously impacting the numerous car brands it operates, but it insists that by being "focused, efficient, innovative, customer-driven and sustainable," it can put its diesel shame behind it and achieve "profitable growth."