Volkswagen cancels Empire building strategy as an all-electric push

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Volkswagen cancels Empire building strategy as an all-electric push

Volkswagen, the German maker of luxury brands likes of Audi, Porsche, Lamborghini, Bentley, Ducati and Bugatti Veyron, headquartered in Wolfsburg, had been exploring a strategy to suspend its empire building strategy by intricating webs of cost-effective engineering technology in a bid to freeing up resources in order to roll out an en masse production of electric cars, CEO of Volkswagen, the top-selling automaker of 2018 excluding pickup vans and the only big-league carmaker to post a profit in the second quarter of 2019 amid a havoc-scale plunge in auto sales across the world, Herbert Diess told in an interview with a press agency on Friday, the 13th of September 2019.

In point of fact, as a global-scale steam-hot reaction on fumes of diesel-run vehicles in most part of Europe had set out a wave of environmental policies to curb toxic exhausts out of European skies, alongside a bunch of other luxury carmakers, Volkswagen had also been seeking an escape on electric vehicles and autonomous cars.

Meanwhile, addressing to a “slimming down” approach on electric vehicles, quite opposite to rival carmakers likes of GM and Ford, which had been planning to roll out more than 20 new e-vehicle models over next three years, Volkswagen CEO Diess told the reporters at the sidelines at the Frankfurt auto show on Friday (September 13th), “We don’t need more brands.

With very few exceptions we can tap the world’s large profit segments with our existing brands. ”