Press release
330KB
december 10, 2021 - Volkswagen
Planning Round 70: Volkswagen drives forward electrification of its European plants and presents its plan for transforming the Wolfsburg site
• In addition to Zwickau and Emden, more European sites to be electrified
• #wolfsburg, the Group headquarters and a manufacturing site, will be transformed: partial production of the ID.3 from 2023 agreed; confirmation that Project Trinity will be implemented from 2026 onwards
• At EUR 89 billion, investments in future areas will make up over half of total CAPEX for the first time
• Group confirms operating margin target at the upper end of the range of 6–7.5 percent for 2021, deliveries of around 9 million vehicles anticipated, adjusted net cash flow for the #automotive Division of EUR 15 billion is certain to be achieved
Wolfsburg, December 9, 2021 – Within the framework of Planning Round 70, the #Volkswagen Group today resolved to further electrify its European plants in pursuit of its goal of becoming global market leader in electric mobility by 2025. Thus, the Group vigorously drives forward the implementation of its NEW #auto strategy.
The Group headquarters and manufacturing site in #wolfsburg will be transformed and the Group’s competitiveness boosted through higher spending on future technologies. The futureoriented investments, which will be primarily in e- mobility and digitalization, will account for the largest proportion of total investments of EUR 159 billion for the first time, at 56 percent or EUR 89 billion. #Volkswagen expects that by 2026 one in four vehicles sold will have a battery-electric drive system.
Hans Dieter Pötsch, Chairman of the Supervisory Board of #Volkswagen AG, said: “The resolutions passed today show how resolutely we are driving forward the transformation of the #Volkswagen Group. Our investments will be focused on the future of mobility in all its key
aspects and on systematically implementing the Group’s strategy. Our exceedingly robust and solid financial base, enables us to finance the necessary investments on our own. We are also therefore very confident that these investment decisions will steer the #Volkswagen Group to future success.”
Further information in the press release to download
Planning round 70 VGI VP 09.12.2021 9.1
4096x2304, 2MB
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