(MT Newswires) -- Arno Antlitz, Volkswagen's CFO, discusses the current situation and the outlook for 2024, acknowledging that the macroeconomic environment is uncertain with high interest rates and persistent inflation. He highlights the intensity of competition in the electric vehicle market, adding that the market is expected to grow slightly.

Antlitz acknowledges that the transition to electrification and digitalisation is underway, but that the move to electrification is slower than expected. He believes that to boost demand for electric vehicles, it is necessary to improve the affordability of EVs and develop the charging infrastructure. Volkswagen plans to launch a €25,000 EV in 2026 to make EVs more affordable.

He also mentions EU regulatory targets to eliminate combustion engines by 2035 and says Volkswagen is planning accordingly, with efficiency programmes in place to maintain profitability and enable future investment. As far as China is concerned, Volkswagen has launched a catch-up plan to improve its products, particularly in terms of driver assistance and infotainment functions, as well as introducing cheaper LFP batteries.

Finally, Antlitz expresses its optimism for growth in the North American market, particularly in the US, where Volkswagen sees opportunities for profitable growth, even before the launch of the Scout model scheduled for 2026-2027.

Bloomberg videos