Volkswagen conducted an annual results conference on Tuesday. The Chief Executive Officer, Matthias Mueller said in a statement at the conference that he is still considering a merger to take place with Fiat Chrysler.
Reuters said that this statement represents a significant change of mind of the CEO, Matthias Mueller as in the previous week during the auto show at Geneva he said that the company is not ready to reveal anything at the moment. He had also said that the company was making attempts to overcome the crisis of the scandals caused by emissions and thus had written off any potential collaboration.
The Chief Executive Officer of FCA, Sergio Marchionne has declared openly that if the automakers wish to maximize their profits and work on a technology that benefits them then they should try and get into a merger so that they can share the technologies, resources, and insights and help each other to invent much cleaner technologies that are safe for the environment and this collaboration will also assist them in cutting their costs and expenditures.
In Detroit on Friday, the German automaker pleaded guilty and was accused of creating conspiracies and providing obstruction to justice in the results of the emissions scandal that had been a long-winding one and made Volkswagen undergo a great deal of challenges. After this, the automaker consented to a scheme to get the regulations and rules pertaining to pollution in the United States and checked for the safety parameters and threshold limits of about 500,000 diesel vehicles.
In addition to this, the automaker has agreed to pay a sum of 4.3 billion as compensation and penalty. Along with this sum of money, the automaker has to pay around 21 billion dollars, which is inclusive of the pledge taken by the company to repair and buy back the diesel it had acquired by wrongful means.
After Volkswagen completes one of its buybacks, it will be transporting the vehicle from the concerned dealership to the storage facilities (for example, Pontiac Silverdome in the city of Metro Detroit). After the completion of the storage process, Volkswagen will be maintaining all the vehicles regularly according to the parameters defined in the modifications of the approved emissions. Volkswagen has assured that all the vehicles that fail to meet the requirements specified in the modifications of approved vehicles will be sent for the recycling process.
However, a spokesperson from Volkswagen declined to reveal the number of vehicles at the Silverdome during late January.