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Planning Round 70: Volkswagen drives forward electrification of its European plants and presents its plan for transforming the Wolfsburg site

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Nicole Mommsen
Nicole Mommsen
Head of Global Communications and Sustainability Volkswagen Group Technology
Christopher Hauss
Christopher Hauss
Corporate Communications Head of Strategy & Finance Communications
Christoph Oemisch
Christoph Oemisch
Corporate Communications Spokesperson, Finance and Sales
Press conference on the Supervisory Board meeting of Volkswagen AG
From left to right: Hans Dieter Pötsch, Chairman of the Supervisory Board of Volkswagen Aktiengesellschaft, Dr. Herbert Diess, Chairman of the Board of Management of Volkswagen Aktiengesellschaft and Daniela Cavallo, Chairperson of the General and Group Works Council of Volkswagen AG.
  • 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. 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 future-oriented 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.

Planning Round 70: Volkswagen drives forward electrification of its European plants and presents its plan for transforming the Wolfsburg site
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