Volkswagen will reduce investment by 30% because of the “diesel scandal”

Moscow. November 20. Volkswagen will reduce annual investment by 30% due to potential losses in connection with the “diesel scandal”, while negotiations with US regulators and the EU on the settlement of a recall of 11 million cars concern has not yet been completed.

As reported by Bloomberg, Volkswagen in 2016 will invest 12 billion euros in new vehicles, plants and technology. In 2014, adopted the investment program of the concern for five years, which included spending an average of 17.1 billion euros per year – twice more than in 2008.

“We are definitely not going to take cuts that could cost us our future”, – said Friday the General Director of Volkswagen Matthias Mueller during a press conference at the headquarters of the group in Germany.

The scandal at Volkswagen, spanning 12 brands and about 300 models of cars, broke out after U.S. regulators found that on some machines the cars with diesel engines were installed software that allows you to bypass testing the exhaust emissions.

Volkswagen required to submit plans for the repair or rebuilding of cars in the USA, where it was found that, the US regulators and separately to the state of California until the end of the day on Friday local time.