Volkswagen 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.
Volkswagen CEO Herbert Diess looks on during his visit to Volkswagen's electric car plant in Zwickau, Germany, June 23, 2021. REUTERS/Matthias Rietschel/Filesexpects 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.
"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."Through good crisis management, we are financially robust and have strengthened our resilience."and become the world's number-one electric carmaker by 2025, building on its bigger product offering covering luxury and premium cars and volume brands.
Prices may need to increase further this year amid rising raw material costs, procurement chief Murat Aksel said.
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