Newly-appointed Chief Executive Officer of Volkswagen AG, Matthias Muller has said that the process of recalling 11 million vehicles affected by the emissions scandal that hit the company’s diesel-powered cars will kick off in January 2016.
In an interview on Wednesday in Germany where the company has its headquarters, the former head of the company’s Porsche division said most of the affected cars will only need a software update, with others needing new hardware.
The fix, he said, will vary depending on the model and transmission of the affected vehicles and country-specific factors.
Muller, who said the recall and repair process will end by the end of 2016, stated that the company has set aside €6.5 billion dollars to cover the cost of the process.
However, observers say the amount set aside may not cover the cost of litigation, as many customers are expected to sue the company.
The company’s fortune has not declined in the US where the scandal broke, as there has not been a significant decline in request for Volkswagen cars, Financial Times reports.
Muller was said to have told workers at the company’s headquarters on Tuesday to prepare for measures that will help the company realise the needed revenue to cover the cost of the recall, measures he said may “not be painless.”
Volkswagen, world’s biggest auto maker, employs around 600,000 workers all over the world.