Volkswagen's Market Value Has Risen From About 91 Billion Euros To 200 Billion Euros

wallpapers Industry 2020-03-10
Volkswagen has stepped up business reforms to prevent it from becoming another Nokia. Volkswagen CEO Herbert Diess said after the board meeting that the change of Volkswagen's business needs to be accelerated to avoid becoming another Nokia. The German automaker hopes to increase its market value from the current 91 billion euros to 200 billion euros through asset restructuring, cost reductions and the development of new technologies such as connected cars.
To achieve transformation, Volkswagen must focus on its advantages and give up anything that hinders performance improvement. In the future, Volkswagen will need to focus more on profits rather than sales. To this end, Volkswagen will reduce its investment in fuel vehicles because Volkswagen believes that in the next ten years, the competition of fuel vehicles is not as good as that of electric cars.

Volkswagen is accelerating its transformational electrification and announced plans to sell more than 3 million pure electric vehicles per year by 2025. On November 15 last year, Volkswagen also announced that it would invest 60 billion euros in electrification transformation by 2025. Of this amount, 33 billion euros (about 256 billion yuan) were spent in the pure electric vehicle sector. Besides, Volkswagen also announced that it would launch 75 purely electric vehicles by 2029.
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