Volkswagen Welcomes the Future with a New Vision and Goal Starting 2020
German company Volkswagen is all-set to leave its nest and start a brand new one in the year 2020. It will launch 34 new models next year, including 12 SUVs and eight electric or hybrid vehicles.
It will also put special emphasis on e-mobility. According to Volkswagen COO Ralf Brandstätter:
“We are at the beginning of a new era. We mean business with e-mobility. The brand will be investing €19 billion in future technologies through 2024, €11 billion alone in the further development of e-mobility. And Volkswagen starts the biggest electric offensive in the automotive industry next year: The ID.3 goes on sale in the summer, soon followed by the ID.Next, our first electric SUV. Our ID. family makes emission-free mobility accessible to many people for the first time. That is New Volkswagen."
Currently, Volkswagen is aiming to shorten CO2 emissions in half six years from now; It also wants to achieve a carbon-neutral balance by 2050 as seen in its commitment to follow the Paris climate goals.
The shift to a more environment-friendly, digital company is part of the company's efforts to modernize and digitize the company. Its goals include increasing its competitiveness, and improving their software expertise. The latter will be made possible by the operation of The Car.Software organization as an independent business unit in January 2020.
Aside from these goals, the German company also wants to strengthen its earning power.
"As announced, we expect to generate cash flow from operating activities significantly in excess of one billion euros in 2019. Our financial targets for 2020 remain unchanged. Furthermore, we reaffirm our targets for 2022 of an operating return on sales of at least six percent and cash flow in excess of 2 billion euros.” CFO Arno Antlitz explained in a statement.
Volkswagen AG--or Volkswagen Group--is a German multinational automotive manufacturing company headquartered in Wolfsburg, Lower Saxony, Germany. In 2016, it was the world's largest automaker by sales, overtaking Toyota and keeping this title in 2017 and 2018, selling 10.8 million vehicles.
Its current bestsellers are: Golf, Tiguan, Jetta or Passat.
The Volkswagen Group is comprised of the following companies: Audi AG, Automobili Lamborghini S.p.A., Bentley Motors Ltd, Bugatti Automobiles S.A.S., Dr. Ing. h.c. F. Porsche AG, Ducati Motor Holding S.p.A, Jetta, MAN SE, Scania AB, SEAT, S.A., Škoda auto a.s., TRATON SE (formerly Volkswagen Truck and Bus), Volkswagen Commercial Vehicles, and Volkswagen Passenger Cars.