Oliver Blume
The jump in the price of VW shares gives the CEO a tailwind for his investment plans.
(Photo: Reuters)
Despite the war in Ukraine and the energy crisis, Europe’s largest carmaker Volkswagen is optimistic about the current financial year: The Wolfsburg-based company wants to clear the production backlog in 2023 and process the orders – in the event of a better supply of microchips and raw materials, this should also boost sales again. In Western Europe alone, VW currently has orders for 1.8 million vehicles on its books.
On Friday, the supervisory board also gave the green light for a new production plant for the US brand Scout. The company announced on Friday that it would build a production plant in the US state of South Carolina – investment sum: around 1.9 billion euros. From 2026, next-generation electric pick-ups and SUVs will roll off the production line there.
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