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Volkswagens EV profit margins to match combustion engines sooner than planned
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>Volkswagen previously expected to match its profit margins from combustion engine vehicles with electric vehicle sales in two to three years, but the carmaker was in a robust financial position to do so sooner, Diess said, despite a challenging economic environment.
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>”We expect that the e-mobility business will be as profitable as the combustion engine business earlier than planned,” Diess said, speaking alongside the rest of the board at the carmaker’s annual shareholder meeting.
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>”Through good crisis management, we are financially robust and have strengthened our resilience.”
Also, a nice little bomb drop here:
>Volkswagen delivered some 452,000 battery-electric vehicles globally last year and aims for half of its global output to be all-electric by 2030. **It plans to build 800,000 fully electric cars worldwide this year and 1.3 million in 2023, it said on Thursday.**
They are basically asking for subsidies to be removed.