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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Volkswagen AG | TG:VOW | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.80 | 0.60% | 133.40 | 132.90 | 133.80 | 134.00 | 132.40 | 133.10 | 4,290 | 22:50:02 |
From May 2021 to May 2024
By Kim Richters
Volkswagen AG on Tuesday raised its 2025 target for operating return on sales, saying the combustion-engines business would help finance and hasten the ramp-up of battery-electric vehicles.
The German car maker said it is now targeting an operating return on sales in 2025 of 8% to 9%, compared with a previous goal of 7% to 8%.
Volkswagen's updated guidance for 2025 comes as the car maker presents a new strategy through 2030, detailing its electrification plans for the next years.
"A disciplined ramp-up driven by synergies from lower battery and factory costs and increasing scale is expected to improve BEV margins," said the car maker, while "a robust-margin ICE business" should generate strong cashflows to help the electric shift.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 13, 2021 07:55 ET (11:55 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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