Speaking at the presentation of the 2015 annual financial statements, Müller reiterated plans to launch over 20 additional ‘e-vehicles’ by 2020, as VW pushes ahead with developing its bespoke architecture in the form of its Modular Electrification Toolkit, or MEB for short.

The first vehicles produced on the MEB basis are slated to hit the streets at the end of the decade.

“We plan to make electric cars one of Volkswagen's new hallmarks,” Müller explained.

He also said that the group plans to open itself up more to new partnerships and strategic investments, and said that it is pushing ahead with its realignment and will take important steps this year to ensure a successful future.

“2016 will be a year of transition for Volkswagen. Yet it will also be the year in which we accelerate the transformation and lay the foundations for a new, better Volkswagen,” added Müller.