Globally Volkswagen is falling further behind its closest rival, Toyota
Save time by listening to our audio articles as you multitaskbrand by cutting costs and jobs. In 2018 he was named boss of the whole vast firm, which made 8.6m cars last year and owns eight car brands, from Porsche to the considerably less fancy Skoda. His task was to clear up the mess left by “dieselgate” and electrify Volkswagen, literally as well as metaphorically. He has earmarked nearly €90bn for investment inHis abrasiveness, which helped land him the job, soon got him into trouble.
The big bets are mostly locked in, says Pedro Pacheco of Gartner, a consultancy. He will also face the same impediments’s size makes it hard to turn around, let alone turn into a Tesla-like tech firm. Its mass-market electric offerings have underwhelmed. Jefferies, an investment bank, reckonss a year by 2023.
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