Volkswagen Vows To Build 22 Million Electric Vehicles Over Next Decade

13 Mars, 2019, 13:37 | Auteur: Auguste Feret
  • Volkswagen Vows To Build 22 Million Electric Vehicles Over Next Decade

"Volkswagen is seeking to provide individual mobility for millions of people for years to come - individual mobility that is safer, cleaner and fully connected", said the official.

The company also disclosed that operating profit at its core Volkswagen brand, one of its 12 brands, fell to 3.2 billion euros ($3.6 billion) from 3.3 billion euros past year as the company faced bottlenecks certifying vehicles under new emissions tests.

Last year, Volkswagen revealed the scope of its commitment to electric powertrains, announcing the most expansive plan in the industry; one that would see it get in front of the pack in terms of sales in this emergent sector, with 50 new electric vehicle models planned.

This was 0.7% higher than the previous year and below €14.53 billion forecast in a poll.

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Before special items, Audi's operating profit accounted for €4.7 billion and Porsche's €4.1 billion.

At the VW brand, executives aim to lift their profit margin to 6.0 percent by 2022, compared with 3.8 percent past year.

German automaker Volkswagen say it will eliminate up to 7,000 jobs by 2023 as it seeks to accelerate its transition to electric vehicles, although the cuts should be achieved via retirement offers.

Volkswagen stuck to its outlook, reiterating that it expects revenues to grow up to 5%, and to deliver an operating return on sales at group level of between 6.5-7.5% in 2019.

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