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VW's labour boss aims to foster, not sell, non-core assets

Reuters  |  WOLFSBURG, Germany 

By and Jan Schwartz

WOLFSBURG, Germany (Reuters) - Volkswagen's powerful works council will continue to block potential sales of the carmaker's non-core industrial assets and instead seek steps with the new to advance the units, its top said in an interview.

Under former Matthias Mueller, attempts to slim down Europe's largest group - which also includes the engineering business and - foundered amid resistance from labour leaders and the controlling and Piech families.

But Volkswagen's (VW) new last month said that spinning off Diesel & Turbo, or motorcycle brand is a possibility as the group's top management reviews options for non-core holdings.

"When taking over MAN, (former chairman) and I promised the workforce of and Diesel & Turbo that we will not sell these divisions. The board (of VW) also gave its word," VW works told

Diess has pledged to speed up VW's post-Dieselgate strategic shift, including preparing the trucks division for a separate listing, as the group aims to become more efficient to better shoulder the costly transformation to electric and self-driving cars.

"We will discuss how we can further develop the engineering operations by means of intelligent solutions," Osterloh said. "The business must not stand still. We also agree with Dr. Diess on this."

(Editing by Ludwig Burger)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 08 2018. 13:06 IST