Volkswagen 8-car MEB electric-car lineup
Volkswagen’s transformation from the world’s leading maker of diesel cars to focusing on electrics isn’t coming cheap.
The company has reportedly paid as much as $30 billion to put its diesel emissions scandal in the rearview mirror (mostly), and it’s investing up to $50 billion more to develop electric cars.
But it can’t do everything, and now reports have surfaced that VW is considering shedding some activities to focus on the heart of its transformation to building electric cars.
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Among the most obvious changes, according to a report in Automobile Magazine this week, are plans for the massive VW Group to pare down its vast array of brands. The company is reportedly looking to spin off its non-core luxury and performance brands, including Bentley, Bugatti, potentially Lamborghini, Italian design house Italdesign, and motorcycle-maker Ducati. It may also narrow or combine some of its discount brands such as Seat and Skoda. The magazine reports rumors that Bugatti could even be gifted to legendary former VW chairman (and grandson of Ferdinand Porsche) Ferdinand Piëch.
One insider identified as a senior strategist told Automobile, referring to Bentley, "Why invest on a backward-looking enterprise when you can support a trendsetter? A proud history and excellent craftsmanship alone don’t cut it anymore.” VW MEB platform In return, the company may introduce a new electric brand of small cars with autonomous driving technology for young people in urban markets. The new platform would […]