Volkswagen posts record first-half earnings and raises profit margin target

Volkswagen posted record first-half earnings on Thursday while also raising its target for profit margin. The results are a marked improvement from the same period last year when demand was ravaged at the height of the Covid-19 pandemic. The German automaker saw first-half operating profit before special items hit 11.4 billion euros ($13.5 billion), exceeding… Continue reading Volkswagen posts record first-half earnings and raises profit margin target

Volkswagen wants half of its vehicle sales to be electric by 2030

Those objectives are part of Volkswagen’s wider aim to be fully carbon neutral by 2050. The firm said it would work on developing software to help boost profits as it focused on transitioning its vehicles from internal combustion engines to operating on batteries. Volkswagen has earmarked 73 billion euros ($86.4 billion) for the development of… Continue reading Volkswagen wants half of its vehicle sales to be electric by 2030

Volkswagen CEO says he wants to ‘get close and then overtake’ Tesla

Volkswagen Group’s CEO has dismissed the notion that his firm could join forces with Tesla, telling CNBC that the German automotive giant was looking to go its own way. Speaking to “Squawk Box Europe” on Tuesday, Herbert Diess was asked if he would rule out any future deal with Elon Musk’s electric car maker, in… Continue reading Volkswagen CEO says he wants to ‘get close and then overtake’ Tesla

Volkswagen, Chinese ventures to invest 15 billion euros in electric vehicles

A logo of German carmaker Volkswagen is seen on a car parked on a street in Paris.Volkswagen AG VOWG_p.DE said on Monday it and three local joint ventures plan to invest around 15 billion euros ($17.44 billion) in electric mobility in China, the world’s biggest car market, between 2020 and 2024. With the investment by… Continue reading Volkswagen, Chinese ventures to invest 15 billion euros in electric vehicles