Well it’s not much news, but it is a bit telling of the situation at hand. News emerged that indicated Volkswagen CEO Matthias Mueller had a two minute conversation with United State President Barack Obama this week and during that quick conversation, he apologized for the dieselgate scandal.
Mueller shares:
“I took the opportunity to apologize to him personally for this matter” and “I also expressed my thanks for the constructive cooperation with his authorities and naturally expressed the hope that I can continue to fulfill my responsibilities for 600,000 workers, their families, the suppliers, the dealers.”
It was a nice token of gratitude in a regretful situation. It is also not something that is likely to rattle investors any as it is clear that the company needs to be in good graces with some of the leaders of the biggest markets in the world. There are other ramifications beyond gratitude and public displays of cooperation. It is still possible that the company may see massive fines that have yet to be determined. The environment and emissions standards that come along with that subject has been a principal subject of choice for the President’s administration. This kind of outreach may serve to show that Mueller and his company have turned a new leaf and will continue to keep good relations wherever possible. Whether that influences the regulatory agencies involved in the forthcoming fines is another matter that remains to be seen.
Mueller also pledged to continue the company’s push towards electric vehicles.
