German based automobile giant Volkswagen still stumbles with problems on their recent diesel scandal, according to recent reports District Judge Charles Breyer delayed the court hearing that was originally set for this Wednesday. The company plans to address the looming 80,000 polluting Audi, Porche, and VW with the onboard 3.0-liter vehicles.
Volkswagen agreed to spend up to $10.03 billion and offered to buy back 475,000 2.0-liter vehicles and offer a compensation of around $5,000 to $10,000 per owner. The agreements with U.S. regulators were a mix of buybacks, fixes, and compensations for the 80,000 sold vehicles. The company agreed on 20,000 older Audi and VW SUV’s buyback and a software fix for the 60,000 for the newer Porsche. VW started buying back the autos last week.
All in all the company suffered a $14.7 billion covering settlements for the almost 475,000 VW TDI vehicles and an additional $2 billion for a project in the next decade that is the Zero-Emission vehicles or ZEV.
VW’s Near Future
Due to nearly $15 billion dollars-worth of recalls, fines, and compensations from the diesel scandal, the company announced that it would cut 30,000 employees by the year 2025. On the contrary, the company pledged 9000 new jobs that will focus on the production and factories the will help develop new electric vehicles and the production of full battery packs as well.
The company eyes on reinventing the American market perceives them, they are looking to be doing crossovers such as the new Atlas. The German giants are trying to compete with the all-American favorites such as the Ford explorer and Jeep Grand Cherokee, they also are driving in the truck industry as they plan on manufacturing light trucks.
VW’s Future Electric Cars
According to Volkswagen CEO Herbert Diess, the company plans to become the biggest player in the world market for providing electric-powered automobiles by 2025 and Diess call the 10-year plan the Transform. Recent reports also revealed that the company’s reconstructing and transformation has effectively scratched all diesel models in the U.S.
The company reveals that they’ll be selling electric cars by 2021 and starts riding the auto trend of electric cars along with other automobile giants. Volkswagen is extremely optimistic about their new road as they plan to diversify the electric cars they offer by 2020; the first batch includes a wide range of crossovers, SUV’s, and hatchbacks. Rumors from the company that they’ll be innovating the battery game with a more effective and efficient battery system.
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