All Press Releases

As the new CEO of AUDI AG, Gernot Döllner will take his place on Volkswagen AG’s Group Board of Management on 1 September 2023. He will take over from Markus Duesmann, who will resign from Group management at the same time. The Group Supervisory Board adopted a resolution to this effect today.

Volkswagen Group is focusing its strategic alignment. At its Capital Markets Day, the Group presented leadership principles that emphasize customer orientation, entrepreneurship and team spirit. The Group assigns responsibility for their return targets to the brands. To achieve these goals, strengthen profitability and cash flows in particular as well as reduce capital intensity , each brand is launching its own performance program for the first time. This involves a paradigm shift: Instead of pure volume growth, sustainable value creation will be prioritized in the future based on the "value over volume” principle. To enable them to fully exploit the economies of scale offered by the technology platforms, the Group is realigning its architecture, battery, software and mobility services. Regionally, the Group is focusing its investments on the world’s most attractive profit pools. In this context, the strategies for the important growth markets of China and North America were also refined. Based on the brands' focused approach and performance programs, the Group is increasing its strategic return on sales target to 9 to 11 percent by 2030.

Lars Korinth will become the new Head of Investor Relations in the Volkswagen Group from autumn 2023 onwards. In this role, he succeeds Julian Krell, who is leaving the company at his own request on June 30, 2023. Korinth already knows the company from his time as Senior Investor Relations Manager at Volkswagen and most recently as Head of Investor Relations at TRATON SE. In his new role, Lars Korinth will report to Rolf Woller, Head of Group Treasury and Investor Relations.

PowerCo SE is planning to introduce a completely new manufacturing process in its battery cell production plants in Europe and Northern America. The new technology will significantly boost efficiency and sustainability in volume battery cell production. A subsidiary of Volkswagen Group and based in Salzgitter, Niedersachsen, the battery company aims to industrialize the so-called Dry Coating procedure. The technology allows a decrease in energy consumption of about 30 percent, internal tests have already proven successful. Together with German printing machine specialist Koenig & Bauer AG, PowerCo will further develop and industrialize the Dry Coating procedure.

Supported by the Volkswagen Group, the Hamburger Bahnhof – Nationalgalerie der Gegenwart welcomes the public to a vibrant art festival amidst the city of Berlin. Between June 16 and 18, 2023, the museum grants free access to all exhibitions including the premiering presentations of its collections. Guests are also invited to participate in panel talks, different guided tours, interactive workshops, open-air activities and music sessions.

June 13, 2023 – The island of Astypalea serves as a future laboratory for smart, sustainable mobility. As part of a joint project of the Volkswagen Group and the Hellenic Republic, it is to be gradually converted to e-mobility, digital mobility solutions and green energy. First results are positive: The new, digital mobility solutions are well established, 25 percent of the inhabitants regularly use the ASTYBUS ridesharing service. Over the past twelve months alone it has completed more than 200,000 customer kilometres. Electrification also makes progress: Almost all new cars to be registered on Astypalea are now fully electric.

Energy and charging solutions provider Elli is changing its charging tariffs effective June 1, 2023. The new price system will provide even more flexibility for Elli’s customers: price-per-minute charging will no longer apply anywhere in Europe, vehicles can be connected to AC chargers for longer before a blocking fee is charged, and the minimum contract period for charging plans will be reduced to one month. These measures will help to cushion the price increases for new customers that rising costs have made unavoidable.

The 18th International Architecture Biennale opens in Venice on 20 May 2023. The Volkswagen Group is a partner of the curatorial team of the German Pavilion and supports the pavilion concept ‘Open for Maintenance – Wegen Umbau geöffnet’, which focuses on sustainable approaches to building construction and urban development. For the first time, the citizens of Venice as well as local and social initiatives will be invited to a grand neighbourhood festival on the eve of the opening to get in contact with artists and experts. Federal Building Minister Klara Geywitz takes part as commissioner of the German Pavilion. In March, materials for the pavilion were sustainably transported from Leipzig to Venice in an ID. Buzz Cargo.

Volkswagen Group has completed the sale of its shares in Volkswagen Group Rus LLC including its local subsidiaries (Volkswagen Components and Services LLC, Scania Leasing LLC, Scania Finance LLC, Scania Insurance LLC) to Art-Finance LLC who is supported by the Russian Dealer Avilon. With the registration of the transaction, ownership of the shares in the authorized capital of Volkswagen Group Rus LLC and its subsidiaries is transferred from the sellers to the buyer.

At the Annual General Meeting of Volkswagen AG, the shareholders voted by a majority of 99.99 percent to approve the recommendation of the Board of Management and the Supervisory Board to increase the dividend for fiscal year 2022 to EUR 8.70 per ordinary share and EUR 8.76 per preferred share. This corresponds to a payout ratio of 29.4 percent and an increase of EUR 1.20 per share, which is significantly higher than previous year’s payout ratio of 25.4 percent.