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  4. Volkswagen's EV business as profitable as combustion engines sooner than planned - CEO
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Volkswagen's EV business as profitable as combustion engines sooner than planned - CEO

BERLIN (Reuters) - Volkswagen (ETR:VOWG_p) expects its electric vehicle business to be as profitable as its fossil fuel-burning cars sooner than planned, its chief executive...
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Volkswagen's EV business as profitable as combustion engines sooner than planned - CEO © Reuters. Volkswagen CEO Herbert Diess looks on during his visit to Volkswagen's electric car plant in Zwickau, Germany, June 23, 2021. REUTERS/Matthias Rietschel/Files

BERLIN (Reuters) - Volkswagen (ETR:VOWG_p) expects its electric vehicle business to be as profitable as its fossil fuel-burning cars sooner than planned, its chief executive Herbert Diess said on Thursday at the carmaker's annual shareholder meeting.

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, Diess said, despite a challenging economic environment.

"We expect that the e-mobility business will be as profitable as the combustion engine business earlier than planned," Diess said. "Through good crisis management, we are financially robust and have strengthened our resilience."

Diess intends for Volkswagen to overtake Tesla (NASDAQ:TSLA) and become the world's number-one electric carmaker by 2025, building on its bigger product offering covering luxury and premium cars as well as volume brands.

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.

Tesla, which produced 936,000 cars last year, has said it aims to put 20 million on the road a year by the end of the decade.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

2,295.80

-7.10 (-0.31%)

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Silver Futures

26.677

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Copper Futures

4.5305

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Crude Oil WTI Futures

81.14

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Brent Oil Futures

85.62

-0.71 (-0.82%)

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Natural Gas Futures

1.946

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US Coffee C Futures

213.73

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Euro Stoxx 50

4,920.55

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S&P 500

5,035.69

-80.48 (-1.57%)

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DAX

17,921.95

-196.37 (-1.08%)

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FTSE 100

8,144.13

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Hang Seng

17,763.03

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US Small Cap 2000

1,973.05

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10,854.40

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49.155

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Bayer AG NA

27.35

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266.60

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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SJC Eximbank8,300/ 8,500
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Cập nhật 01-05-2024 10:45:19
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$2,285.72-47.5-2.04%
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Sản phẩmVùng 1Vùng 2
RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
DO 0,001S-V21.32021.740
Dầu hỏa 2-K20.68021.090
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Brent$85.50+3.860.05%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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