VW ID.4
May 7, the official news from Volkswagen Group shows that Volkswagen Group sales revenue in the first quarter was 62.38 billion euros, up 13.3% year-on-year; operating profit was 4.812 billion euros, pre-tax profit was 4.463 billion euros, after-tax profit was 3.414 billion euros, and operating return on sales was 7.7%.
In terms of vehicle sales, the Volkswagen Group achieved sales of 2.4 million units in the first quarter, up 21.2% year-on-year; sales of electric vehicles more than doubled year-on-year to 133,300 units.
In China, the Volkswagen brand (and its Jetta brand) delivered a total of more than 732,400 vehicles in mainland China and Hong Kong.
In addition, on 28 April, Volkswagen China released news that construction of Volkswagen Group (China)'s Anhui MEB plant in Hefei had recently started. The plant is the Group's third pure electric vehicle plant in China, following SAIC-Volkswagen's Anting and FAW-Volkswagen's MEB plant in Foshan, which will use green energy in its future production. The plant is expected to be completed by mid-2022, with the first model to go into production in the second half of 2023. The new plant will lay the foundation for the Group's accelerated electrification. By 2025, Volkswagen Group (China) plans to be able to deliver around 1.5 million new energy vehicles annually.
Notably, in the first quarter, the Volkswagen Group's automotive division spent €4 billion on research and development, mostly on future-oriented research investments in technologies such as electrification.
Volkswagen Group Chief Financial Officer Arno Antlitz said that the Volkswagen Group will continue to invest in the electrification and digitalisation of its vehicles, while also continuing to reduce its cost base.
Arno Antlitz also expects the chip shortage to have a more pronounced impact on the entire automotive industry in the second quarter. Earlier, Volkswagen Group CEO Herbert Diess said in a media interview that VW plans to design and develop high-performance chips and the required software in-house.
In addition to chips, the Volkswagen Group also attaches great importance to power batteries.
On March 15, Volkswagen Group held a "Volkswagen Battery Day" at its headquarters in Wolfsburg, Germany, to reveal its roadmap for battery and charging technology in the next ten years. The aim of the Volkswagen Group's 2030 Battery and Charging Technology Roadmap is to significantly reduce the complexity and cost of batteries so that electric vehicles can appeal to as many customers as possible and become an affordable technology for as many groups as possible. At the same time, the group is focusing on securing the supply of batteries beyond 2025. In Europe alone, the company expects to build six super battery plants with a total capacity of 240 GWh/year by 2030.
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