Volkswagen to unveil 2025 strategy in mid-June: CEO

Fri May 20, 2016 9:10am EDT
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HANOVER, Germany (Reuters) - German carmaker Volkswagen (VOWG_p.DE: Quote) will announce a new strategy in mid-June, Chief Executive Matthias Mueller said, according to excerpts of a speech seen by Reuters on Friday.

Europe's biggest carmaker has been working on a new strategy for its core autos business that it hopes will boost its profitability once it emerges from an emissions test-rigging scandal which plunged the carmaker into a 4.1 billion euro operating loss for 2015.

"We want to lead Volkswagen out of the company's most difficult situation ever and shape it into a mobility provider," Mueller said in a speech given to the auto maker's senior managers, the copy of the speech showed.

In his presentation, Mueller said that the new strategy will be presented in mid-June.

(Reporting by Jan Schwartz, writing by Tina Bellon)

An employee works on the engine of an E-Golf in a production line at the plant of German carmaker Volkswagen in Wolfsburg, Germany May 20, 2016. REUTERS/Fabian Bimmer