Breaking News: VW CEO Martin Winterkorn Resigns After Emissions Scandal

VW’s emissions-related scandal proved to be too big for CEO Martin Winterkorn, who has just announced his resignation.

Martin Winterkorn took responsibility for the rigging of US emissions tests and made the decision to step out as CEO – although he says he is not aware “of any wrong doing on my part.”

Here’s the entire statement posted on VW’s media website:

“I am shocked by the events of the past few days. Above all, I am stunned that misconduct on such a scale was possible in the Volkswagen Group.

As CEO I accept responsibility for the irregularities that have been found in diesel engines and have therefore requested the Supervisory Board to agree on terminating my function as CEO of the Volkswagen Group. I am doing this in the interests of the company even though I am not aware of any wrong doing on my part.

Volkswagen needs a fresh start – also in terms of personnel. I am clearing the way for this fresh start with my resignation.

I have always been driven by my desire to serve this company, especially our customers and employees. Volkswagen has been, is and will always be my life.

The process of clarification and transparency must continue. This is the only way to win back trust. I am convinced that the Volkswagen Group and its team will overcome this grave crisis.”

The statement comes less than a day after VW Group issued a video apology from Martin Winterkorn in relation to the manipulation of emissions results on diesel-powered models. Apparently, that was not enough.

More had to be done in the wake of the scandal which drove down VW shares by 30 percent and the resignation may be a sign for the markets that the company is committed to right the wrong.

But bad news continues for VW. After the company admitted that some 11 million vehicles sold worldwide are fitted with the so-called “defeat device”, German prosecutors opened an investigation into the manipulation of vehicle emission test results.

France’s Energy Minister Segolene Royal said her country would be “extremely severe” if its investigation into VW found any wrongdoing.

In the United States, authorities are planning criminal investigations after discovering that VW used a software in its diesel-powered cars which concealed true emissions when the cars were being tested.

VIDEO

Skoda Vision iV: What’s It Like To Drive The Electric SUV Concept?

The study has 500 km of range, two electric motors and 300 HP, and previews a production model.

Audi A8 Horch Takes A Virtual Swing At The Mercedes-Maybach S-Class

Audi’s officially readying a more upscale variant of its flagship sedan, and here’s how it could look like.

Hyundai Will Use AI To Automatically Alert Authorities To Injuries After Crashes

The Israeli tech company’s tech is so advanced it can alert authorities of potential injuries in just 7 seconds.

Toro Rosso Boss Says Today’s F1 Drivers Can Handle Much Faster Cars With Ease

Nowadays, you’ll never see a driver collapsing after a race as in the past, even in the worst of conditions.

Jay Leno Checks Out Mil-Spec’s Hummers At His LA Garage

The legendary military truck-turned-fashion icon has been thoroughly updated without losing its identity.

Mercedes-Benz 560SEC Widebody: Big, Bad, And Old School To The Core

Some pristine, low-mileage 560SEC AMG 6.0 examples sell for more than $100,000 these days.

Ferrari 488 Pista Spider Sets The Benchmark In Open-Top Supercars

Can anyone find a flaw in the way the new 488 Pista Spider drives? Well, they can sure try…

BMW M2 Competition, M4 And Others Recalled Over Potentially Faulty Airbags

Certain 2019-2020 2-Series, 3-Series and 4-Series models are also included in the recall.

Several States Want To Use Credit Cards At EV Stations, Security Concerns Arise

Most current electric vehicles chargers use an app or secure, contactless payment methods.

Corvette Z06 Driver Does A Mustang By Attempting Burnout, Ending Up In Ditch

The ‘Vette disappears in a cloud of white smoke before crashing in an embarrassing manner.