Matthias Mueller, the previous CEO of Volkswagen Group, has been named chairman of Piech Automotive, an electric-car or truck startup operate by the son of the late previous VW Group Chairman Ferdinand PIech.
Mueller is 1 of a range of higher-profile figures included in Piech Automotive, which was established by Toni Piech and Rea Stark Rajcic, a Swiss designer and entrepreneur. They incorporate tech investor Peter Thiel — a co-founder of PayPal and an early investor in Fb.
Piech Automotive reported in a statement that it experienced completed its initially spherical of investment decision with Thiel’s involvement, but did not offer even more facts. It introduced that a 2nd spherical to increase capital to launch a creation car or truck would be managed in the coming months under the leadership of UBS.
Mueller was ousted by VW Group’s board, managed by the Piech-Porsche clan, in April 2018 and changed by Herbert Diess.
Mueller experienced taken the prime occupation at VW right after the automaker’s diesel cheating scandal. He was viewed by insiders as a hesitant CEO who experienced an uneasy romantic relationship with the government of Decrease Saxony, which is VW’s 2nd-most significant shareholder.
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