Volkswagen has announced its investment plan for the next five years. The automaker giant intends to invest 180 billion euros or $192.76 billion in production in North America and the manufacture of batteries. In addition, the company expects to cut the costs of internal combustion engine production by 2025.
Later on, the company intends to release more information about its plans to improve the work of the Volkswagen Group's software division, Cariad. As demonstrated by the company's annual report, Cariad’s operating loss was 2.1 billion euros, while the revenue totaled 800 million euros only.
The investment plan implies a 15 billion euro investment in the production of batteries for electric vehicles. This money will be used to build new production facilities, along with raw material resources.
So far, Volkswagen has been manufacturing its vehicles at three plants in Europe and is currently in no hurry to pick new sites. In 2027, the automaker is planning to commence plant construction in Canada.
On Tuesday, Volkswagen presente the results of a virtual stock history. As a part of it, the company ran training sessions for all of its unlisted brands.
The most likely stock market candidate is PowerCo. As reported by Reuters in November, the negotiations with investors about the branch acquisition are underway, as the partial listing is coming up.
In the coming year, Volkswagen expects its revenue to go up 10-15% and supplies to increase by 14%.
Last year, the automaker succeeded in achieving an 8.1% profit margin which was higher than a year earlier. That being said, the cash flow was below the target values caused by supply chain issues.
Login in Personal Account
105
