According to foreign media reports, although Herbert Diess, who advocated the development of electric vehicles, is no longer the CEO of Volkswagen, the Volkswagen Group, led by his successor Oliver Bloom, is still promoting its electric vehicles. automotive strategy and accelerating the transition to electric vehicles.
The latest reports from foreign media show that in the development of electric vehicles, Volkswagen Group CFO, Arno Antlitz, who has also served as COO since September 1, expressed his belief that the group has made financial preparations for electrification.
Foreign media said in the report that continuous investment in electrification will be possible through the funds obtained from the IPO of its brand Porsche and the relatively high operating profit margin.
In the report, foreign media mentioned that through the Porsche IPO, the Volkswagen Group has received about 9.6 billion euros of funds, and their current operating profit margin is 7-8.5%, which will provide financial support for their electrification.
Although the Porsche IPO received about 9.6 billion euros of funds, and the Volkswagen Group itself has considerable profits, foreign media reported that Arno Antlitz still plans to obtain more liquidity to provide financial support for electrification. Volkswagen is also considering an IPO for its battery unit, but Arno Antlitz did not disclose a timetable.
