a few days Ago we reported that the Volkswagen Group has acquired a debt of 20,000 million euros with several european financial institutions. The objective of this loan – a credit line – is the financial burden that will have to solve the crisis of the Dieselgate, as well as emissions of CO2 misrepresented in almost a million cars in Europe. In addition, this loan will be used to pay the fines and lawsuits that start piling up in their offices.
The division of engineering and generators MAN could be the first to be sold if necessary.
have so far been accumulated some 500 lawsuits from consumers angry about the high level of emissions of NOx of their cars from the Volkswagen Group, and several countries have imposed fines on Volkswagen independently. These fines are only truly serious in the united States, where they could add a maximum of 18,000 million dollars. A market where, incidentally, the Group has not yet submitted a technical proposal to solve the excessive emissions of the more than 500,000 cars affected.
therefore, the reason for asking for this loan is very clear. Now, what happens if Volkswagen can’t pay these debts? Not talking about a family with problems to pay the mortgage at the end of the month, we are talking about a huge multinación with hundreds of thousands of employees. The thing changes, as said in the announcement. According to a report from Reuters, the Volkswagen Group could dispose of the division technique of MAN, produced primarily generators and motors for boats.
This division would be valued at between 4,000 and 5,000 million euros. It would be the sale more easily and quickly, but it might not be the only one. Other sources in the same Reuters article points to Ducati – bought by Audi for a little over a year – and even Bentley and Lamborghini, although much less likely. For the moment, the Volkswagen Group has already confirmed that it will cut its investment in about 1,000 million euros, although for the moment, investments and employment in Spain are guaranteed.
we’ll keep you informed.