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BERLIN (Reuters) - Volkswagen
The carmaker on Thursday said it will create six new business areas and a special portfolio for China, its largest market, and split its brands into three new vehicle groups with categories for value, premium and super-premium nameplates.
The announcement was made after Volkswagen directors ousted Mueller and deliberated ways to reform an empire which has motorbike, bus, truck and passenger car brands including Ducati, Bentley, Porsche, Audi, Scania and Skoda.
Volkswagen replaced Mueller after he failed to refocus the group's portfolio of car brands, a key pillar of "Strategy 2025" to transform the company into a leader in cleaner cars after the diesel emissions scandal of 2015.
The appointment of Diess was cheered by analysts.
(Reporting by Andreas Cremer; Editing by Douglas Busvine and Edward Taylor)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)