VW’s Long Road to Winning Back Trust

VW’s Long Road to Winning Back Trust

New CEO promises more strict adherence to government standards

Matthias Mueller has a huge task ahead of him as he attempts to pull his company out of the disastrous scandal over pollution test rigging.

The former Porsche chief was recently appointed CEO saying that he intends to win back trust for the company.

“Under my leadership, Volkswagen will do everything it can to develop and implement the most stringent compliance and governance standards in our industry,” he said in a statement.

Late on friday Swiss authorities temporarily banned the sale of VM cars that may be fitted with rigging software.

Martin Winterkorn was forced to resign after US authorities found the VM was using software in their diesel cars capable of tricking emissions tests. This scam could lead to almost $20 billion in fines.

Volkswagen admitted that 11 million of its vehicles where fitted with the environmental test cheating software.

The company has set aside a little over 10 billion this quarter to cover costs.

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