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Volkswagen: Difference between revisions
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== Management == | == Management == | ||
May 6, 2023: Volkswagen to fire all but one of the management members of its software division Cariad this week, people familiar with the matter said. The move comes after Cariad exceeded its budget and failed to meet its goals. Cariad problems have delayed releases of new models such as Porsche e-Macan and Audi Q6 e-tron<ref>https://finance.yahoo.com/news/vw-fire-top-executives-software-105750810.html</ref>. The officials to be ousted include Cariad's CEO Dirk Hilgenberg, CFO Thomas Sedran, and CTO Lynn Longo<ref>https://www.wsj.com/articles/vws-new-ceo-to-replace-management-of-ailing-software-unit-873b1f1b?siteid=yhoof2</ref>. | May 6, 2023: Volkswagen to fire all but one of the management members of its software division Cariad this week, people familiar with the matter said. The move comes after Cariad exceeded its budget and failed to meet its goals. Cariad problems have delayed releases of new models such as Porsche e-Macan and Audi Q6 e-tron<ref>https://finance.yahoo.com/news/vw-fire-top-executives-software-105750810.html</ref>. The officials to be ousted include Cariad's CEO Dirk Hilgenberg, CFO Thomas Sedran, and CTO Lynn Longo<ref>https://www.wsj.com/articles/vws-new-ceo-to-replace-management-of-ailing-software-unit-873b1f1b?siteid=yhoof2</ref>. | ||
=== Management Commentaries === | |||
May 17, 2023. CFO Arno Antlitz said the company is still weighing whether to convert its Wolfsburg plant to build a new generation of electric vehicles called Trinity or build a new factory. The new plant will cost the company 2 billion euros but retrofitting the Wolfsburg plant will cost less. Antlitz said Volkswagen is "planning for significant positive margin" on its new ID.2. He added that it will be until 2025 before Volkswagen starts building EVs at the same profit margins as combustion vehicles due to rising battery material costs. "A lot of the margin parity depends on raw materials," Antlitz told the Reuters Automotive Europe conference. He noted that an investor for its battery division Powerco could found in 2024 and a potential listing could come later. "Onlookers shouldn't be surprised if in 2024 there might be a first step taken with a strategic investor," he said "There is a lot of interest," he added "We have to decide how long we want to keep it on our books."<ref>https://finance.yahoo.com/news/volkswagen-aims-margin-parity-evs-101133917.html | |||
https://finance.yahoo.com/news/volkswagen-cfo-no-surprise-powerco-112642459.html</ref> | |||
==References== | ==References== | ||
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