Volkswagen is gearing for stormier weather ahead. According to Reuters, the company’s CEO, Matthias Mueller, spoke recently at an internal meeting at Volkswagen’s headquarters to warn employees that the dieselgate saga will have lasting effects within the company.
Stephan Weil, board member of the Volkswagen Group added that further difficulties are expected now because German prosecutors have increased their investigations from an original six Volkswagen employees to a total of 17.
“We will this year, probably every now and then, be confronted with unpleasant news related to dieselgate,” Weil said. The board member added that while the effects will not be minor, the company has “strong economic substance” that he hopes will weather the storm.
According to the publication, German prosecutor, Klaus Ziehe, also told members of the media that while the number of suspects has risen, none of them are from the management board. However, that hasn’t stopped the Volkswagen Group from ringing the changes at its top management level in the past.
Notably, the Volkswagen Group reportedly set aside 6.7 billion euros (RM31 billion) to help cover the cost created by the global recalls. However, this figure doesn’t include what it may have to spend to cover fines and compensation payouts.
As such, Volkswagen has held back from revealing its earnings in 2015. Additionally, it is reported that the car maker may have to cough up a further 15.5 billion euros (RM70 billion) to help it cope with the the dieselgate’s aftermath.
The post Volkswagen chiefs warn staff of lasting troubles ahead appeared first on Paul Tan's Automotive News.
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