Within four years, Volkswagen wants to fivefold number of its works that can produce electric cars: The group has announced that it intends to build battery-electric powered cars at 16 locations worldwide by end of 2022. According to head of group Matthias Müller, this is currently being provided at three locations. Already in two years, nine furr works of group will be ready for production of e-cars. Partnerships with battery manufacturers for Europe and China are to be helped. According to Müller, orders placed so far have a volume of 20 billion euros.

Volkswagen has done everything in recent months to implement so-called roadmap e swiftly and resolutely, Müller said. Last fall, group announced that it would build up to three million e-cars per year by 2025 and introduce 80 new electric models to market. According to Mülleraber, plans do not mean a departure from internal combustion engine. The modern diesel engine is also part of solution with a view to climate protection.

At same time, VW is thinking about its own production of battery cells. Currently, German manufacturers are still heavily dependent on suppliers mainly from Asia. A research centre is already being set up in Salzgitter plant. A decision on possible production of such components has not yet been made.

Record annual balance sheet for 2017

Despite exhaust gas scandal, VW had a profit of 11.4 billion euros in 2017. This is not only twice as much as in previous year, but also a larger surplus than 2014 – last full year before start of diesel affair. Sales increased by 6.2 percent to 230.7 billion euros.

The doubling of profits is also reflected in salaries of group's Executive board members: in total, ir remuneration amounts to around 50.3 million euros – an increase of almost one-third compared to previous year. Last year, total remuneration of VW chef Matthias Müller Rose Auf10, 14 million euros. In 2016 he still earned some 7.3 million euros.

Following criticism of remuneration of its Board of management, VW had reformed its system for determining Executive board salaries for fiscal year 2017. For example, chief Executive Officer has had a maximum of 10 million euro for board of directors since 2017, for board members of 5.5 million euros. The fact that Müller's references still exceed ten million euros is due to company's claims that this amount is ancillary to services and Versorgungsansprücheenthalten. Without this, his annual salary would be 9.5 million euros.

Date Of Update: 14 March 2018, 12:02