VW: Can offer "an electric alternative to almost all models".

Despite a challenging environment, the Volkswagen Group has made good progress in its transformation into a sustainable, software-centric mobility provider. CEO Herbert Diess said at the virtual AGM: " Through good crisis management, we are financially robust and have strengthened our resilience. At the same time, we have made a lot of important progress in implementing our NEW AUTO strategy." In 2022, VW also intends to "powerfully drive forward the transformation, despite geopolitical and economic challenges."

Given the successful financial year 2021 with a strong operating profit before special items of €20 billion, the Board of Management and Supervisory Board have proposed to the Annual General Meeting an increased dividend of €7.50 per ordinary share and €7.56 per preference share compared to previous years.

Group's E-Offensive successful in all core markets
The change of drive type from internal combustion to electric cars is a central element of the NEW AUTO strategy. "Today, our customers can buy an electric alternative to almost all models," says Diess in this regard. The Group's e-offensive is running at full speed in all core markets. In Europe, every fourth all-electric vehicle (BEV) came from the Volkswagen Group in 2021. In the USA, the Group achieved a BEV market share of around eight per cent last year, which is rough twice as much as for combustion vehicles. More than two-thirds of the 17,000 ID.4 buyers were new customers. This year, the Group will already offer eight BEV models there. In China, its largest single market, the Group delivered around 93,000 all-electric vehicles last year, more than four times as many as in 2020. The roughly 120 ID. City Stores, which have been opened in major Chinese cities, have been well received by customers, according to VW.

Herbert Diess added: "We expect the e-mobility business to be as profitable as our combustion engine business sooner than planned. Because we are rolling out our e-mobility kit broadly, converting more and more plants and also selling our technology to competitors like Ford."

Transformation into a tech group resolutely pursued
As part of the NEW AUTO strategy, the group says it has resolutely pushed ahead with its technology platforms.

More than 40 million vehicles are to be built on the future electric unit platform SSP (Scalable Systems Platform). Reducing complexity is a central theme here. In a successful pilot project in Kassel, one large casting replaces around 30 individual parts. The use of this process is being tested for the Volkswagen Trinity.

In the central software division, 1000 additional developers were hired last year to advance the Group's software stack for autonomous driving. Additional capabilities have also been integrated with camera software manufacturer Hella Aglaia and other tech companies. The group has also entered into a cooperation with Bosch to jointly pick up even more speed in the development of autonomous driving. "Bringing software development fully in-house is a completely new approach that will take two life cycles. In the automotive industry, that's 15 years," said Herbert Diess.

In Battery & Charging, the group recently announced the location of its third battery factory in Valencia, Spain, after Salzgitter and Skellefteå in Sweden. A total of six battery factories are planned by 2030. In addition, a uniform pricing model was introduced for the volume brands at more than 300,000 charging points. Together with BP, the first flexible fast-charging point was inaugurated; there are to be 4000 of these by 2024.

In the field of mobility solutions, the Group started testing autonomous shuttles in Munich together with ARGO AI, thus reaching an important milestone. From 2025, autonomous shuttle services are to be offered in Hamburg. The acquisition of Europcar is expected to be completed in the second quarter of 2022. It will be the basis of the group's future mobility platform.