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袁春凤 (Tiffany)

In 2023, the cost savings and efficiency gains of VW brand are expected to reach 6 billion Euros.

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In 2023, the cost savings and efficiency gains of VW brand are expected to reach 6 billion Euros.

In order to raise the operating profit margin of the popular brand to 6% by 2023, the German Business Daily quoted people's internal information as saying that the company hopes to achieve 6 billion euros in cost savings and efficiency gains.

Volkswagen has said it hopes to achieve a profit margin of at least 6% by 2025. It is reported that the cost and efficiency improvement of about 3 billion euros will come from better pricing of passenger cars and efforts to sell high-profit models, while the remaining 3 billion euros will come from reducing the complexity of the models being sold and reducing administrative costs.

As the industry goes deeper into the field of automatic driving and electrification, cost savings and efficiency gains will also help the public to better invest in new technology.

Last month (November), Volkswagen announced a series of investment and restructuring plans. By the end of 2023, Volkswagen Group will invest 44 billion euros in research and development of electric vehicles, smart networking, new mobile travel services and digitization of vehicles and factories. In addition, Volkswagen Group has also identified joint development and production of light commercial vehicles with Ford and explored other areas of cooperation.

Volkswagen CEO Herbert Diess also said that mass production of electric vehicles would allow companies to reduce production costs of electric vehicles to the current level of diesel production. In addition, the Volkswagen Board of Supervisors has approved a long-term capital expenditure plan for mass production of electric vehicles in Europe.

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