Volkswagen (VW) is set to unveil its new concept car in Geneva on 1 March which runs faster, is cheaper and requires a much lighter grip on the steering wheel. The car is slated to go on sale in 2018, Reuters reported, citing sources.

Volkswagen said: "Two models take centre stage for the Volkswagen brand at this year's Geneva International Motor Show. First, the new edition of the Up! city car: this will soon be appearing on the market with a new engine option, an impressive variety of extras and improved smartphone integration. Second comes a fascinating concept car which will enliven the compact car class as a trendy, affordable SUV."

Future models of the car will be developed by production and design teams that will have total control over technology, cost and quality and even launch dates.

Post-Dieselgate, the automaker has made significant changes to its corporate team. The new concept car will mark the first product to be featured under VW's decentralised corporate structure. The move has been spearheaded by former BMW executive Herbert Diess, who now serves as VW's brand chief. Diess is believed to have been pushing for decentralisation ever since his appointment in July 2015, much before the need for a corporate restructuring was necessitated, following the emission scandal.

Volkswagen previously had an established chain of command, with layers of committees, tasked with the responsibility of approving design and manufacturing, before final approval could be sought from the automaker's top executives. Now, under Diess's leadership, the company has four new teams with 100 members each, who will focus on the central production series of VW's compact, mid-sized and battery-powered cars.