Volkswagen to spin off some brands later this year
At Volkswagen’s Annual Media Conference in Wolfsburg, the carmaker announced a number of new models as well as plans to restructure its portfolio.
"We are reviewing our brand portfolio, in the second half of the year we can talk more about this," Volkswagen Group CEO Herbert Diess told the journalists present.
The only two confirmed safe brands for VAG are Porsche and Skoda, the two most profitable marques under the Volkswagen umbrella. Previous reports suggest VW might look at selling off some of its non-core businesses first, like Scania, MAN and Ducati.
Also announced yesterday was the goal of producing 22 million EVs over the next ten years across all of VAGs brands. To achieve this, Volkswagen will launch 70 electric or plug-in hybrid vehicles from its marques.