All Press Releases

A roof converted into a ship, a propulsion system that combines recycling and sustainability and a travel format which is centered around encounters: the citizenship project by ZK/U Berlin is an energetic contribution to documenta fifteen. Volkswagen supports the project and its journey through Germany to the world’s most important exhibition for contemporary art.

The Volkswagen Group is striving to lead the automotive industry from the front in the field of responsible raw material sourcing. In 2021, the Group published its first Responsible Raw Materials Report. It detailed Volkswagen’s methodology and activities within a newly implemented due diligence framework. This year’s report takes a first look back on significant achievements and offers an outlook on the challenges ahead.

The Volkswagen Group has lined up its launch crew for the mission to quickly and comprehensively industrialize new battery technologies. A highly talented team led by Frank Blome will work from their base in Salzgitter to expand the rapidly growing battery business and turn Volkswagen into a global cell manufacturer. To this end, a six-member Executive Board has been appointed to manage the new independent European company (Société Européenne), an operation that will employ top international experts from the fields of technology, procurement, production and finance. The board will begin work on July 1 and oversee all activities along the battery value chain – from the procurement and processing of raw materials to the development of the Volkswagen unit cell and the management of the company's initial six gigafactories. This work will also include new business models involving second-life uses for vehicle batteries and closed-loop recycling of valuable raw materials. The company will be headquartered at the Salzgitter site, which serves as the Group's battery hub in Europe.

Volkswagen and Mahindra & Mahindra Ltd. (M&M) are exploring the use of MEB electric components for Mahindra’s new “Born Electric Platform”. Both parties announced today that they have signed a Partnering Agreement on 18th May to evaluate the scope of collaboration. Mahindra intends to equip its “Born Electric Platform” with MEB electric components such as electric motors, battery system components and battery cells. The Partnering Agreement evaluates the scope of collaboration – it indicates binding rules for the evaluation phase as well as the non-binding scope of supply. The binding supply agreement will be negotiated in a continued constructive and legally compliant way to conclude by the end of 2022.

At the virtual Annual General Meeting of Volkswagen AG, the shareholders voted by a majority of 99.9982% percent to approve the recommendation of the Board of Management and the Supervisory Board to increase the dividend for fiscal year 2021 compared with the previous years to 7.50 EUR per ordinary share and 7.56 EUR per preferred share. Approximately 3.8 (2.4) billion EUR will therefore be distributed to shareholders for the last fiscal year. The resolution on the formal approval of the members of the Board of Management and the Supervisory Board who held office in fiscal year 2021 was passed.

The Volkswagen Group is making good progress with its transformation into a sustainable, software-centric mobility provider, despite a challenging environment. Speaking at the virtual Annual General Meeting, CEO Diess said: “We delivered in 2021. Backed by good crisis management, we are financially robust and have strengthened our resilience. At the same time, we have made major progress in implementing our NEW AUTO strategy. We will continue to forge ahead with our realignment in 2022, despite the geopolitical and economic challenges. Our teams are keen to change the world of mobility.”

Volkswagen Group will launch an all-electric pick-up and rugged SUV in the United States. The decision of the Board of Management was confirmed today by the Supervisory Board of the Volkswagen Group.

The Volkswagen Group and SEAT S.A. will mobilize 10 billion euros, together with their partners in the Future: Fast Forward project, in the event of a positive resolution of the PERTE VEC. This was announced today by Herbert Diess, CEO of the Volkswagen Group, who visited the Parc Sagunt II site, together with Pedro Sánchez, Prime Minister of Spain; Ximo Puig, President of the Valencian Generalitat; Wayne Griffiths, President of SEAT S.A.; and Thomas Schmall, Member of the Board of Management of Volkswagen AG, Chief Technology Officer and Chairman of the Board of SEAT S.A.

Volkswagen Group posted strong financial results during the first quarter, despite a difficult global environment. The main drivers were an improved sales mix, better pricing, continued cost discipline and the flexibility provided by the Group’s global set-up. As such, Volkswagen mitigated the impact from worldwide shortages of semiconductors and wire harnesses by reallocating resources between its main markets in Europe, China, and the Americas. This resulted in sales revenue of EUR 62.7 billion (+0.6 percent) and a robust operating profit before special items of EUR 8.5 billion including positive effects mainly from commodity hedging activities. Even excluding these effects, the underlying operating profit of around EUR 5 billion lies significantly above previous year and underlines the robustness of the business. Based on the figures and the expected better semiconductor supply in the second half of the year, the Group confirms its outlook for 2022. However, it is not yet possible to conclusively assess in particular the specific effects of the latest developments in the Russia-Ukraine conflict or effects of the Covid-19 pandemic on the Volkswagen Group’s business, on the global economy and growth in the industry in fiscal year 2022.