The Volkswagen Group confirmed its 2020 forecasts despite the coronavirus crisis by announcing that it expects to obtain positive operating results for this year, as announced at the automaker’s Annual General Meeting.
The German automotive group also confirmed future investments, including $ 38.61 billion for the expansion of electric mobility until 2024.
Through this investment, Volkswagen wants to become the market leader in electric vehicles.
The issue of digitization is also of great importance to the company. Around $ 16 billion will be allocated to the development of information technologies and autonomous driving until 2024.
“The restructuring of the company will not be slowed by the coronavirus, but accelerated”, said the Group’s CEO, Herbert Diess.
The Volkswagen Group expects September revenues and sales to exceed the levels of the previous year, as well as the upward trend to continue through the remainder of 2020.
However, Diess also noted that all medium and long-term forecasts remain subject to considerable uncertainty and depend on how the pandemic evolves.