Sebastian Rudolph will take over as head of Volkswagen Group Communications and Nicole Mommsen will become his deputy in Wolfsburg
In the wake of Oliver Blume’s appointment as the future Chairman of the Board of Management of Volkswagen AG, the company had decided to reorganize its communications. Rudolph will become the new head of Group Communications in addition to being Vice President Communications, Sustainability and Politics at Porsche AG. He will retain this dual function after a possible IPO of Porsche AG.
Volkswagen posts robust H1 results, enabling investment in mobility, battery platforms and software as future profit pools
Volkswagen Group posted robust operating results in the first half, enabling important investments in future profit pools and new platforms. The Group continued to make great strategic progress in Q2, registering crucial developments across its tech-platforms – mobility services, batteries and software.
The Volkswagen brand further strengthened the Group’s economic efficiency in the first half of 2022. Effective sale management, improved cost efficiency and consistent implementation of the ACCELERATE strategy have led to a strong financial result. Operating result before special items rose to EUR 1.9 billion (first half of 2021: EUR 1.2 billion). The operating return on sales before special items rose to 5.6 percent (first half of 2021: 3.4 percent). The half-year result benefited in particular from a strong second quarter. This is also the main reason that the net operating cash flow reached 569 million euros in the first six months. As a result of optimized model and price policy, the company generated sales revenue of just under 33 billion euros (first half of 2021: 36 billion euros) – despite a significant year-on-year decline in vehicle deliveries.
Volkswagen Group China today unveiled its first electric Vertical Take-Off and Landing (eVTOL) passenger drone prototype, as part of its strategy to explore and break new ground in fully electric and sustainable individual mobility concepts. In 2020, Volkswagen Group China launched a Vertical Mobility project to explore the next generation of mobility solutions, including the urban air mobility market and the extension of urban traffic into airspace. After intensive research, conceptual work, and development, the project team has now developed its first validation model – the V.MO. This initial prototype has also been nicknamed the ‘Flying Tiger’ due to its distinctive black and gold livery, which was painted to commemorate its launch in the Year of the Tiger.
Volkswagen of America (VWoA) today marked the start of production of its all-electric ID.4 compact SUV in Chattanooga, Tenn., the company’s first electric vehicle assembled in the United States.
In its meeting today, the Supervisory Board of Volkswagen AG appointed Oliver Blume as the new Chairman of the Group Board of Management. He will take over this position with effect as of 1 September 2022, combining this with his role as Chairman of the Board of Management of Dr. Ing. h. c. F. Porsche AG and continuing in the latter capacity also after a possible IPO. Herbert Diess will at the same time resign as Chairman of the Board of Management by mutual agreement. The Chairman of the Supervisory Board, Hans Dieter Pötsch, thanked Herbert Diess on behalf of the entire board: “During his tenure as Chairman of the Board of Management of the Volkswagen Passenger Cars Brand and as Chairman of the Group Board of Management, Herbert Diess played a key role in advancing the transformation of the company. The Group and its brands are viable for the future; its innovative capabilities and earning power are strengthened. Mr. Diess impressively demonstrated the speed at which and consistency with which he was able to carry out far-reaching transformation processes. Not only did he steer the company through extremely turbulent waters, but he also implemented a fundamentally new strategy.”
The Volkswagen subsidiary Elli, which has Group-wide responsibility for all activities relating to the topic of charging and energy, is expanding its offer. The three brand-neutral wall box models are now also available in Italy, Sweden and Spain, following on from Germany. All chargers allow charging at home with a maximum charging capacity of 11 kW and are therefore up to eight times faster than a household socket. Three flexible and transparent charging tariffs are offered. The “Drive Highway” tariff for long-distance drivers has already been hailed in Germany as “the cheapest charging tariff from an independent provider” by the Europe-wide market analysis “E-Mobility Excellence Comparison 2022”.
Volkswagen Group is strengthening its U.S. leadership team to accelerate its ambitious growth strategy in North America. As part of its NEW AUTO strategy, the Group aims to leverage the transformation to electric vehicles (EVs) in the region with a broad product portfolio and the set-up of a new company to enter the all-electric pickup space. Scott Keogh, President and CEO of Volkswagen Group of America, has been appointed President and CEO of Scout, an independent company that is being established in the U.S. Pablo Di Si, Executive Chairman of Volkswagen South American Region, will assume leadership of Volkswagen Group of America, and CEO of Volkswagen North American Region. The leadership changes will take effect September 1.
Higher efficiency and lower emissions: Volkswagen has enhanced its bestselling 1.5 TSI petrol engine and is now introducing the latest generation, the TSI evo2, in the first models in Europe. This engine makes it possible to reduce both fuel consumption and CO2 emissions. The compact, ultra-modern four-cylinder engine will initially be available with an output of 110 kW (150 PS), and further variants of the 1.5 TSI evo2 will follow. The T-Roc and T-Roc Cabriolet will be the first models to be delivered with the new engine. The TSI evo2 will also be introduced successively in other models by the end of the year.
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