Volkswagen AG will discuss its blueprint to realign the company and emerge from the diesel-engine crisis, when it presents a 10-year strategic plan to the public in January, the company has announced.
The company is now developing a technical solution to fix cheat software included in about 11.5 million vehicles globally. The company is expected to recall the vehicles, including about 500,000 in the U.S., starting in January.
In an Oct. 28 statement, Matthias Muller, the chairman of the Board of Management, said Volkswagen is now focusing on supporting customers who own its diesel vehicles. Volkswagen is working with German authorities in the plan and its implementation.
The company's five-point plan also includes completing an internal investigation with "severe consequences" for those who were responsible for implemeting the cheat software.
Volkswagen AG will also realign the group to implement a new decentralized structure; develop a "culture of openness and cooperation;" and revamp the company's 2018 strategic plan into a 2025 strategic plan.
"We have to look beyond the current situation and create the conditions for Volkswagen's successful further development," Müller said. "Volkswagen will emerge from the current situation stronger than before."