Volkswagen CEO Herbert Diess will stay on with rejigged responsibilities, the carmaker said on Thursday, ending weeks of uncertainty about his future amid conflict with unions, as the company ratcheted up spending plans on electric cars.
At a news conference on Thursday, works council head Daniela Cavallo, who had lashed out at Diess for fuelling concerns among the carmaker's workforce, said she was happy with the outcome of negotiations.
Volkswagen Supervisory Board Chairman Hans Dieter Poetsch said the group was able to fully fund the programme, adding the group had some intelligent financing concepts up its sleeve, without being more specific. "We are becoming a battery manufacturer, a charging infrastructure manager, software is playing a more dominant role ... we are developing new business activities with an unbelievable dimension for us," he said.
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