All Press Releases

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.

The Volkswagen Group is launching a major quality offensive in terms of charging and energy. The volume brands Volkswagen, Cupra/Seat and ŠKODA are now offering simple tariffs for public charging, allowing customers to charge at fixed kilowatt-hour prices throughout the entire charging network. With this step, the company creates optimal cost transparency. At the same time, the Volkswagen Group is further expanding its European charging network: E-car drivers can now use more than 310,000 charging points throughout Europe, including around 10,000 fast chargers at over 3,000 locations. Volkswagen is also planning a comprehensive partner program to increase the comfort at charging parks.

The Science Based Targets initiative (SBTi) has scientifically reviewed and upgraded the ambition of Volkswagen Group’s emissions reduction targets in production. Volkswagen's SBTi ambition level thus rises from "below 2 degrees" global warming to "1.5 degrees" for its scope 1 (internal operations) and scope 2 (energy supply) emissions. The initiative and the company are publishing this news on the eve of the worldwide Earth Day, on which Volkswagen is calling on its workforce for the second time to take part in the global Project1Hour. Around 670,000 employees worldwide can spend an hour coming up with climate protection ideas - for their own carbon footprint and that of their company.

The Volkswagen Group successfully continued its global electric offensive in the first quarter, lifting deliveries of all-electric vehicles by 65 percent year-on-year. Despite supply bottlenecks for semiconductors and wire harnesses, 99,100 BEVs have been handed over to customers by the end of March, up from 60,000 in the opening quarter of the previous year. The biggest increase was seen in China, where 28,800 customers took delivery of a BEV manufactured by a Group brand – a more than four-fold increase versus the prior-year period.

Today the press conference of the exhibition "Motion. Autos, Art, Architecture" took place at the world-famous Guggenheim Museum Bilbao. The initiator and curator of the unique show, iconic architect and visionary Sir Norman Foster, spoke together with Dr. Herbert Diess (Chairman of the Board of Volkswagen AG), Ignacio Gálan (Chairman and CEO Iberdrola) and museum director Juan Ignacio Vidarte about the history of the automobile and the mobility of the future. “Motion” presents around 40 exceptional cars along with artworks by Andy Warhol, Donald Judd, Giacomo Balla and others. In the Future Gallery sketches and models from students give a glimpse into how mobility might look like in the year 2086. The universities cooperated with Bentley Motors Limited, UK and Volkswagen, among others. The sponsorship of the exhibition in Bilbao is part of Volkswagen's international cultural engagement as well as an expression of the support of cultural concerns in the vicinity of the Spanish Volkswagen facilities.

Electrifying Spain by creating a European Electric Vehicle Hub, building up a battery cell production and full, sustainable E-ecosystem: These are the goals of Volkswagen Group and SEAT for the Iberian Peninsula. Today, the Group declared its plan to apply to the Electric Vehicle PERTE program after the Spanish government announced to open the call for applications on April 1st, 2022. The ‘Future Fast Forward’ program would include a total investment of more than 7 billion euros together with external suppliers along the entire value chain of e-mobility. Furthermore, Volkswagen announced Valencia as the dedicated location for a new battery cell factory in Spain. All plans are still subject to final approvals, foremost the PERTE submission.