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VW Group reports profit, increases investment in electric vehicles


The Volkswagen Group announced that it plans to invest 180 billion euros (~$289 billion) between 2023 and 2027, with more than two-thirds of that being earmarked for digitization and electrification.

68% of this total investment – ​​or about 122 billion euros (~$197 billion) – will go to these “future sectors”, and the company says it is particularly focused on North America and China. Country.

In addition, there will be continued investments in the “last generation of internal combustion engines”.

The peak in the Volkswagen Group’s investment is expected to be reached in 2025, after which it is expected to continuously decline.

The The group said it has recorded “solid full-year results” for fiscal 2022 and has a “solid financial base to build on in 2023”.

The company posted a “strong” operating profit of €22.5 billion (~36 billion Australian dollars) in 2022, an increase of 12.5% ​​compared to 2021.

Even so, the total number of vehicles delivered by brands fell 7% to 8.3 million in 2022.

The Volkswagen Group says it currently has an order book of 1.8 million vehicles and expects supply chain bottlenecks to “gradually ease” by 2023.

Deep in the company’s annual report, it noted that its software unit Cariad suffered a €2.1 billion (~AU$3.2 billion) loss in 2022.

According to the report of European Automotive NewsThe software unit is still ready to deliver the delayed premium software package to Porsche in time for launch Macan tram in 2024.

Volkswagen Group CEO Oliver Blume said: “We have struggled with Cariad-level software issues within the VW Group over the years.

“Now they are [close] to perfect the software platform for Macan.”

This software will also be used in the electric version of Next Generation Boxsteras well as the electric version of Cayenne which recently confirmed.

Looking to the future, the Volkswagen Group Recently acquired Scout Motors brand recently announced that it will build its upcoming pickup trucks and SUVs at a plant near Columbia, South Carolina from late 2026.

The company said it was invested US$2 billion (~AU$3 billion) to set up this production facilitywith plans to break ground in mid-2023.

THAN: Porsche sales will be almost entirely electric by 2030, Cayenne EV coming soon
THAN: Porsche Macan EV 2024 revealed inside and out
THAN: Scout: VW’s off-roader EV brand sets up camp in South Carolina

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