Volkswagen said that the company still hopes to launch an economical electric car by 2025, priced at about 25,000 euros (currently about 184,000 RMB) , the car is positioned lower than ID.3.
Arno Antlitz, Volkswagen’s chief financial officer, said on a conference call with analysts: “By then we will have a lot of scale … Our battery factory in Valencia will bring us additional improvements in batteries. By then, We also hope to make significant progress in securing adequate supplies of raw materials.”
Asked how the company would respond if demand in the next few years was not as strong as expected, Antlitz said the company was willing to delay or adjust its battery investments. “The overall goal is to have a solid financial position,” he said.
The Antlitz brands had set profitability and cash flow targets for each brand at a summit in January, before CEO Oliver Blume announced the results of a mock listing in June.
