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VW CEO talks up 20 new plug-in models in Frankfurt

For years now, Volkswagen has dreamed big, forming plans to become the world's largest automaker. That trajectory includes a big plug-in vehicle push, and the CEO of Volkswagen, Martin Winterkorn, said that his group of companies will bring out 20 more EVs and plug-in hybrids by 2020. The list includes the next Phaeton and the Audi A8. "No commitment to electro-mobility can be any clearer than that," Winterkorn said, according to a VW press release. "Our Group already has the largest connected vehicle fleet on the road. By 2020 we will have transformed all of our new cars into smartphones on wheels." Perhaps most illustrative, Winterkorn admitted that the auto industry has turned a corner. "Technological leadership is no longer solely defined in terms of horsepower and torque," he said. "We are taking the precision, enduring value and quality of our cars into the new, digital world." The VW group is also showing off new plug-in concepts in Frankfurt this week, like the Tiguan GTE and the Porsche Mission E. Winterkorn's prepared remarks do not give out the details of these vehicles, but we'll have all the info from the show floor in short order. Stay tuned. PROF. DR. MARTIN WINTERKORN: "THE REINVENTION OF VOLKSWAGEN" 14/09/15 from Volkswagen Group 20 more electric cars and plug-in hybrids by 2020 announced Group not only has broadest electric fleet, but also largest connected vehicle fleet on the road Customers should benefit from automated driving technologies as quickly as possible Volkswagen taking precision, enduring value and quality of its cars into the digital world Wolfsburg/Frankfurt am Main, September 14, 2015 – In the Volkswagen Group, there is a sense that a new era is dawning. On the eve of the 66th International Motor Show (IAA) in Frankfurt am Main the CEO of Volkswagen Aktiengesellschaft, Prof. Dr. Martin Winterkorn, said on Monday evening: "We are in the process of reinventing Europe's largest automaker, laying the technological, economic and structural foundations." The Group Chairman announced there would be 20 more electric cars and plug-in hybrids by 2020 – from compact cars to the next Phaeton and Audi A8: "No commitment to electro-mobility can be any clearer than that." He said the Group already had the broadest electric fleet in the automobile world, and added that Volkswagen was also at the forefront when it came to the future-oriented field of digitisation: "Our Group already has the largest connected vehicle fleet on the road.

Former Porsche CEO Wiedeking indicted over VW takeover bid

Do you recall the failed efforts by Porsche to take over Volkswagen? According to a Bloomberg report, former Porsche CEO Wendelin Wiedeking (above) and ex-CFO Holger Haerter have finally been charged with market manipulation over the exercising of options as part of the German sportscar manufacturer's ill-fated attempt to take over the much larger VW. That failed bid eventually resulted in the reverse coming true - VW swallowing Porsche.
The charges leveled by Stuttgart prosecutors come after a three-year investigation centered around allegations that Porsche execs made a concerted effort to increase the company's share in VW to 75 percent in preparation for a hostile takeover. Porsche had previously told its investors on at least five occasions that it had no intention to buy VW.
Portions of the investigation have subsided, according to prosecutors, citing an inability to prove certain improprieties with a "necessary degree of certainty." The number of charges is down to 5 from a previous 14 counts regarding "information-based market manipulation."

Volkswagen might cut 40 models across brands to save cash

Volkswagen once set out to pass Toyota and General Motors and become the largest automaker in the world. Following months of fallout from the diesel emissions scandal, the manufacturer is rumored to be dropping around 40 models from its company-wide lineup. According to German business and finance publication Handelsblatt, the Volkswagen Group is looking to slim down and remove a number of low-volume vehicles from various lineups. The company currently sells around 340 models across brands that include Audi, Lamborghini, and Bentley. Volkswagen is refusing to comment, but Handelsblatt claims to have sources within the company. Last week, Volkswagen Group CEO Matthias Muller announced a new strategy for the company that includes a major focus on electric vehicles and new technology services. During his announcement, Muller said the company would be cutting a number of models, but at the time no numbers, models, or brands were discussed. Despite comments to the contrary, rumors have persisted since late last year that Volkswagen was looking to sell commercial truck and bus manufacturer MAN. Volkswagen owns truck and bus manufacturer Scania, so even if it dropped MAN, the company would still have a foothold within the bus and truck market. There is also talk of the company selling Italian motorcycle manufacturer Ducati, which Volkswagen acquired via Audi in 2012. The company's image has taken a huge hit in the wake of the diesel scandal. Volkswagen has set aside cash in order to pay fines and may be looking to sell these several subsidiaries and cut low-volume models in order offset the costs. Despite the scandal, the company led worldwide sales in the first quarter of 2016. The same was true in 2015, but sales tanked at the end of the year following the diesel revelations. Related Video: Rumormill Audi Bentley Volkswagen Ducati