Amid a major restructuring at Volkswagen, German newspaper Handelsblatt reported Saturday that the company is planning to phase out over 40 of its nearly 340 models in the coming years. The news comes just as VW is in the process of a major overhaul, which also allegedly includes the launch of about 30 new electric vehicles.
VW stated last week that it will be investing billions in R&D over the next few years with a focus on electric vehicles, ride-sharing and automated driving. The plans were announced in an effort to restore investor confidence in the company as it continues to suffer the consequences of its diesel emissions scandal.
Handelsblatt did not specify which models in the Volkswagen portfolio would be axed in the coming years. It is worth noting that Volkswagen owns an entire portfolio of brands, including Porsche, Audi and lesser known brands (to North Americans) such as Skoda and Seat.