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Volkswagen: Difference between revisions
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May 31, 2023: Volkswagen brand board member said the company has introduced extra shifts at its Wolfsburg plant in order to meet production targets."Our production network in Germany was hit particularly hard by the consequences of the corona pandemic, the global chip crisis and the Ukraine war," Labbe said. "The situation has eased substantially," he added. Labbe noted that in 2022, Wolfsburg plant produced only 400,000 cars or half its annual capacity but that situation is over now<ref>https://finance.yahoo.com/news/volkswagen-launches-extra-shifts-wolfsburg-122913558.html</ref>. | May 31, 2023: Volkswagen brand board member said the company has introduced extra shifts at its Wolfsburg plant in order to meet production targets."Our production network in Germany was hit particularly hard by the consequences of the corona pandemic, the global chip crisis and the Ukraine war," Labbe said. "The situation has eased substantially," he added. Labbe noted that in 2022, Wolfsburg plant produced only 400,000 cars or half its annual capacity but that situation is over now<ref>https://finance.yahoo.com/news/volkswagen-launches-extra-shifts-wolfsburg-122913558.html</ref>. | ||
May 31, 2023: Chief Operating Officer Ralf Brandstaetter said Volkswagen will not participate in a discount war in China. "Volkswagen is focusing on a sustainable business model. In concrete terms, this means that we will not participate in the discount battle at any price," Brandstaetter said in an interview for the company's intranet. "Our market position is strong enough. For us, the focus is on profitability, not sales volume or market share," he added. "If we achieve sales of more than 4 million vehicles in this environment in 2030, with corresponding profitability, that is a position we could very well live with," he pointed out. He expects the Chinese car market to grow to between 28 to 30 million by 2030 from the current 22 million<ref>https://finance.yahoo.com/news/volkswagen-wont-participate-china-discount-074932497.html</ref>.May 17, 2023. CFO Arno Antlitz said the company is still weighing whether to convert its Wolfsburg plant to build a new generation of electric vehicles called Trinity or build a new factory. The new plant will cost the company 2 billion euros but retrofitting the Wolfsburg plant will cost less. Antlitz said Volkswagen is "planning for significant positive margin" on its new ID.2. He added that it will be until 2025 before Volkswagen starts building EVs at the same profit margins as combustion vehicles due to rising battery material costs. "A lot of the margin parity depends on raw materials," Antlitz told the Reuters Automotive Europe conference. He noted that an investor for its battery division Powerco could found in 2024 and a potential listing could come later. "Onlookers shouldn't be surprised if in 2024 there might be a first step taken with a strategic investor," he said "There is a lot of interest," he added "We have to decide how long we want to keep it on our books."<ref>https://finance.yahoo.com/news/volkswagen-aims-margin-parity-evs-101133917.html | May 31, 2023: Chief Operating Officer Ralf Brandstaetter said Volkswagen will not participate in a discount war in China. "Volkswagen is focusing on a sustainable business model. In concrete terms, this means that we will not participate in the discount battle at any price," Brandstaetter said in an interview for the company's intranet. "Our market position is strong enough. For us, the focus is on profitability, not sales volume or market share," he added. "If we achieve sales of more than 4 million vehicles in this environment in 2030, with corresponding profitability, that is a position we could very well live with," he pointed out. He expects the Chinese car market to grow to between 28 to 30 million by 2030 from the current 22 million<ref>https://finance.yahoo.com/news/volkswagen-wont-participate-china-discount-074932497.html</ref>. | ||
May 17, 2023. CFO Arno Antlitz said the company is still weighing whether to convert its Wolfsburg plant to build a new generation of electric vehicles called Trinity or build a new factory. The new plant will cost the company 2 billion euros but retrofitting the Wolfsburg plant will cost less. Antlitz said Volkswagen is "planning for significant positive margin" on its new ID.2. He added that it will be until 2025 before Volkswagen starts building EVs at the same profit margins as combustion vehicles due to rising battery material costs. "A lot of the margin parity depends on raw materials," Antlitz told the Reuters Automotive Europe conference. He noted that an investor for its battery division Powerco could found in 2024 and a potential listing could come later. "Onlookers shouldn't be surprised if in 2024 there might be a first step taken with a strategic investor," he said "There is a lot of interest," he added "We have to decide how long we want to keep it on our books."<ref>https://finance.yahoo.com/news/volkswagen-aims-margin-parity-evs-101133917.html | |||
https://finance.yahoo.com/news/volkswagen-cfo-no-surprise-powerco-112642459.html</ref> | https://finance.yahoo.com/news/volkswagen-cfo-no-surprise-powerco-112642459.html</ref> | ||