Volkswagen Sees Several ‘Tough’ Years of Restructuring Ahead
- VW Brand Chief Diess says ‘hard work’ will be finished by 2020
- Cars for new automotive age target the likes of Apple, Tesla
VW’s Diess Sees ‘Hard’ Restructuring Work Done by 2020
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Volkswagen AG said it will take years to overhaul its namesake brand tarnished by the diesel-cheating scandal before returning to what unit chief Herbert Diess called the “good times,” when cars like the I.D. electric concept hit the market.
By 2020, “we will have finished the hard work,” Diess said Thursday in a Bloomberg TV interview at the Paris Motor Show. “We have three to four tough years ahead of us to really restructure the company and getting more profitable and more competitive.”