VW bets on electric cars, services to recover from crisis

Volkswagen CEO Matthias Mueller addresses a news conference at Volkswagen's headquarters in Wolfsburg, Germany June 16, 2016. REUTERS/Fabian Bimmer

WOLFSBURG, Germany: Volkswagen will invest billions of euros in electric cars, ride-hailing and automated driving to become a world leader in green transport by 2025, it said, as it reshapes its business following its diesel emissions scandal. 

Europe's biggest carmaker said it would fund "the biggest change process in the company's history" with an efficiency drive, including integrating components businesses that currently employ 67,000 people in 26 locations worldwide.