Volkswagen continues to step up the pace of its electric offensive: The ID.3 will be assembled at the Gläserne Manufaktur in Dresden in addition to the Zwickau plant. This was announced today by Gunnar Killian, Volkswagen AG Board Member for Human Resources, at a works meeting in Dresden. The ID.3 is the first model in the latest generation that Volkswagen is putting on the road under its global electric offensive. The Gläserne Manufaktur is to evolve into a Center of Future Mobility where innovative technologies are developed and tested in collaboration with industry partners and startups. Efforts to pursue new areas of business such as the function testing station are to be intensified. Vehicle collection is to be significantly expanded, and the location is to be made even more attractive as a destination for visitors and customers.
The Volkswagen Group has in principle confirmed the strategic targets set out in its strategy Together 2025+ for operating return on sales, return on investment, capex ratio and R&D cost ratio, net cashflow and net liquidity within the Planning Round 68. “We are continuing to pursue our ambitious strategic financial targets for 2020 and 2025. We also confirm our outlook for 2019. The Volkswagen Group remains very robust in the face of increasingly difficult economic conditions. However, we will have to apply systematic cost discipline to reach our long-term goals,” Frank Witter, the member of the Volkswagen Group Board of Management responsible for Finance and IT, said in describing the impact of Planning Round 68 on the strategic financial targets.
At its meeting today, Volkswagen Aktiengesellschaft’s Supervisory Board resolved to appoint Mr. Markus Duesmann (50) as new member of the Group Board of Management.
The Volkswagen Group is continuing to invest strongly in its future. As part of Planning Round 68, the investment plan for 2020 to 2024* has been drawn up. The plan was dis-cussed during today’s meeting of the Supervisory Board and approved. The Group plans to spend nearly EUR 60 billion on the future areas of hybridization, electric mobility and digitalization in the next five years. This amounts to slightly more than 40 percent of the company’s investments in property, plant and equipment and all research and development costs during the planning period. Compared with the Group’s last Planning Round, it represents an increase of around 10 percentage points. The Group intends to invest around EUR 33 billion of this figure in electric mobility alone.
The ID.3 heralds the beginning of a new era of electric mobility for Volkswagen. The electric drive, which is based on the modular electric drive matrix (MEB), is produced by Volkswagen Group Components. It’s not only less complex than a conventional petrol or diesel engine, but also compact enough to fit in a sports bag. But how does the electric drive, produced at the component site in Kassel, actually work?
Volkswagen of America marked the start of construction for its electric vehicle production facility. The Chattanooga site, where production begins in 2022, will be Volkswagen's North American assembly base for electric vehicles on the Modular Electric Drive Matrix (MEB). The company also announced it intends to build a plant for the assembly of battery packs for EVs at the Chattanooga site.
This year’s international Science Award Electrochemistry was presented to Dr Kimberly See of the California Institute of Technology (Pasadena, California, USA). She was honoured yesterday evening at the Science Award Electrochemistry & Science Dialogue held in Wolfsburg’s Autostadt. The award has been presented seven times as a joint initiative of Volkswagen and BASF and is aimed at young scientists of excellence. Prizes total €70,000, of which €50,000 is awarded to the overall winner.
The Volkswagen brand delivered 562,200 vehicles worldwide in October, 8.8 percent more than in October 2018. Volkswagen made further significant gains in market shares in a shrinking overall global market. There was also growth in China (+7.5 percent), the brand’s largest single market, and Brazil (+1.6 percent), with deliveries rising despite shrinking overall markets. Following the weaker figures in October 2018 as a result of the changeover to WLTP, there were further sharp increases in deliveries in the European market (+23.4 percent) and the home market of Germany (+40 percent).
Press talk after the Supervisory Board Meeting of the Volkswagen Group from November 15
Volkswagen Showcar ID. SPACE VIZZION
Production start of Volkswagen ID.3
World premiere of the new Gol
Joachim Löw and the new Golf
Golf 8 Production