Volkswagen’s new board of management issued a new statement this morning highligting its new strategy to come out of the emission scandal. CEO Dr. Herbert Diess about the announcement:

“The Volkswagen brand is repositioning itself for the future. We are becoming more efficient, we are giving our product range and our core technologies a new focus, and we are creating room for forward-looking technologies by speeding up the efficiency program.”

On top of obviously changing its diesel strategy to now comply with American and European standards, the company plans on making significant investments in electric vehicles. expand full story