right direction. With our improved result, the brand is making a key contribution to the success of the entire Group. However, we are only at the beginning. Further progress in our core business will strengthen our foundation to make Volkswagen a world market leader in e-mobility by 2025. Electric offensive: new Board of Management division "E-Mobility" in 2018, Volkswagen will further intensify preparations for its electric offensive. The new Board of Management division "E-Mobility", headed by Thomas Ulbrich, pools the electric activities of the brand and firmly links this key topic of the future to the Board of Management. From 2020, the Volkswagen brand plans to introduce an entirely new generation of full electric cars based on the modular electrification toolkit (MEB). Preparations for this offensive are proceeding to schedule. With an investment of about €1 billion, the brand will transform the Zwickau plant into the European competence centre for e-mobility and will produce all the