1 year ago
65 Covering an country of 6.5 cardinal quadrate meters, VW's immense manufacturing installation successful Wolfsburg uses 2 cogeneration plants that supply it with vigor and power.
Krisztian Bocsi | Bloomberg | Getty Images
Volkswagen connected Tuesday announced plans to put 180 cardinal euros ($192.6 billion) betwixt 2023 and 2027, with much than 2 thirds targeting "electrification and digitalization."
The German automotive elephantine earlier this period posted a full-year 2022 operating nett of 22.5 cardinal euros, up 13% from the erstwhile year, with artillery and electrical conveyance (BEV) deliveries rising 26%.
The BEV enlargement was driven by a 68% spike successful China, portion the institution besides completed the landmark electrification of its works successful Chattanooga, Tennessee.
However, wide transportation numbers declined by 7% to 8.3 cardinal vehicles successful 2022 and the automotive division's nett currency flows decreased to 4.8 cardinal euros from 8.6 cardinal euros successful 2021.
In Tuesday's yearly report, the institution attributed this to "an summation successful moving superior owed to proviso concatenation and logistics issues, particularly towards the extremity of the year," and projected this should "largely reverse" implicit the people of 2023.
CEO Oliver Blume said Volkswagen "set wide and ambitious targets and took indispensable decisions to streamline processes" successful 2022, portion the coming twelvemonth volition beryllium "decisive" for executing the group's strategical aims.
Volkswagen Group CFO & COO Arno Antlitz said the beardown fiscal presumption should alteration the institution to "continue investing successful electrification and digitalization" adjacent successful a "challenging economical environment."
This is simply a breaking quality communicative and volition beryllium updated shortly.
