Volkswagen Group holds strong in Q1 despite global shortages, provides EV strategy updates

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German automotive conglomerate Volkswagen Group has shared affirmative Q1 reports, outlining a robust concern contempt planetary inhibitors similar proviso concatenation shortages and struggle successful Eastern Europe. With its 2022 outlook optimistically confirmed, Volkswagen is expanding investments successful R&D that includes caller EV technologies arsenic good arsenic large funds to bring much BEVs to North America.

In a property merchandise today, Volkswagen Group outlined income gross of EUR 62.7 cardinal ($66.1 billion) – up 0.6%, positive an operating nett of EUR 8.5 cardinal ($9 billion). While each signs constituent to a palmy twelvemonth of targets, Volkswagen has each but confirmed its 2022 outlook pursuing Q1:

Based connected the figures and the expected amended semiconductor proviso successful the 2nd fractional of the year, the Group confirms its outlook for 2022. However, it is not yet imaginable to conclusively measure successful peculiar the circumstantial effects of the latest developments successful the Russia-Ukraine struggle oregon effects of the Covid-19 pandemic connected the Volkswagen Group’s concern connected the planetary system and maturation successful the manufacture successful fiscal twelvemonth 2022.

According to Volkswagen Group, its Q1 results were bolstered by improved income mix, amended pricing, outgo discipline, and the flexibility provided by its planetary footprint. Reading done Volkswagen Group’s interim Q1 report, the connection “global” is utilized rather a spot arsenic the institution looks to grow its EV beingness worldwide, peculiarly successful ample markets similar North America.

Volkswagen Group EV income for Q1 2022

According to its Q1 report, Volkswagen Group delivered 99,064 all-electric vehicles globally. This fig is 39,112 (65%) much BEVs delivered than Q1 of 2021. The stock of BEVs delivered compared to the wide Group full roseate to 5.2 (2.5)%.

Volkswagen delivered 50,740 PHEVs successful Q1 and the full stock of electrified vehicles compared to full Group deliveries roseate to 7.9 (5.5)% YOY. Volkswagen Group specifically called retired the pursuing EVs arsenic its astir palmy existent models:

Volkswagen ID.3 and ID.4 Audi e-tron and Q4 e-tron ŠKODA Enyaq iV CUPRA Born Porsche Taycan and Taycan Cross Turismo Volkswagen sets its sights connected the US marketplace for EV sales

The German car radical explained that it volition proceed to grow its beingness to planetary markets similar China. However, North America – the US successful peculiar – is portion of an ambitious caller maturation plan. When VW says ambitious, it means it’s targeting 10% of the US EV marketplace stock by 2030. Its US stock was 7.5% successful 2021, behind lone Tesla. BEVs volition beryllium important to the company’s occurrence arsenic it plans to person astatine slightest 25 options for merchantability during this aforesaid clip frame.

Another important origin volition beryllium EV artillery manufacturing connected US soil, arsenic we antecedently covered quality that VW is considering a caller compartment plant successful Tennessee alongside a 2nd assembly facility. This would each autumn nether a fiscal committedness of $7.1 billion announced by Volkswagen successful precocious March to bolster its EV lineup, R&D, and manufacturing successful North America.

New vehicles see accumulation vehicles similar the all-electric ID. Buzz minibus, arsenic good arsenic variations of existent BEVs similar the Audi A6 Avant e-tron “near-production concept” connected VW’s caller Premium Platform Electric (PPE).

Back location crossed the pond, Volkswagen Group has confirmed a $2.2 cardinal concern to erect a caller manufacturing works adjacent its main Wolfsburg tract to physique Project Trinity – the brand’s adjacent ground-up rider EV promising maximum ratio and speedy charging.

As you tin see, a batch is going connected with Volkswagen done Q1 and beyond, and a batch we didn’t excavation into. Check retired the afloat quarterly report for yourself to larn more.

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