Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Volkswagen : commences climate-friendly MEB production at Foshan and Anting plants

11/30/2020 | 08:01am EST

'Our ID. family, based on the MEB platform, will be an industry game-changer and will revolutionize the NEV market. The MEB provides unique versatility and is an incredibly flexible platform for vehicle production, meaning, we can offer customers a wide range ofhighly attractive electric models, from compact city cars to spacious buses or SUVs,' said Dr. Stephan Wöllenstein, CEO of Volkswagen Group China. 'The start of production at the first two MEB plants in China is a true milestone and will take our e-mobility push mainstream, making quality NEVs affordable for many people.'

Standardization for efficient ramp-up

The Anting MEB plant is Volkswagen Group's first greenfield MEB plant anywhere in the world, 100% dedicated to the manufacture of pure-electric vehicles. Through standardization measures, the infrastructure investment at the new Anting plant was cut by 5 percent compared to previous car plants, despite significant higher costs for site-specific requirements.

The Foshan plant was revamped on the site of original production facilities as one of the most flexible plants in the global production network. It allows to produce both convention ICE models based on the MQB platform and pure-electric models based on the MEB platform on the same production line. A highly flexible set-up enables co-production of 6 to 8 MEB products. With more than 1,200 robots in the welding workshop and an automation rate of nearly 100 percent in the paint shop, Foshan is one of the most productive plants in China.

Both projects were started in the second half of 2018 and fully completed to the point of series production within just two years.

Benchmark for climate-friendly vehicle production in China

The Anting plant implemented 28 energy-saving and eco-friendly measures, including solar photovoltaic power generation, improved heat-exchange systems, intelligent light controls and waste management, as well as rainwater recycling. As a result, energy use, water use, carbon dioxide waste, volatile organic compounds (VOCs) and general waste have each been reduced by 20 percent compared to other vehicle plants of a similar size.

At Foshan, all MEB vehicles will be produced with renewable energy, making the production process CO2-neutral. Furthermore, 200,000 square meters of solar panels have been installed to provide the factory with a power of 8.2 MW and an overall production of 9,000 MWh per year of renewable energy. This leads to a CO2-saving of 7,900 tons per year.Through a water recycling system, 44 percent of the water used in the production process is recycled. Since 2018, the Foshan factory has received 9 national environmental awards for green and energy-saving production methods.


Volkswagen AG published this content on 30 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2020 13:00:01 UTC

© Publicnow 2020
All news about VOLKSWAGEN AG
02:57aKenya's new car sales drop by 16% in 2020 on coronavirus crisis
12:15aVOLKSWAGEN : Audi Eyes 1 Million China Car Sales in 2023
01/19Volkswagen says China car sales, production hit by chip supply shortage
01/19Germany's Audi Partners with SAIC to Expand Presence in China
01/19MARKET CHATTER : Germany's Audi Targets 1 Million Car Sales in China in 2023
01/19Audi aims to sell one million cars in China in 2023
01/19Cruise, GM partner with Microsoft to ramp up self-driving vehicles
01/19Microsoft joins GM, Cruise self-driving partnership
01/19How Volkswagen's $50 Billion Plan to Beat Tesla -2-
01/19How Volkswagen's $50 Billion Plan to Beat Tesla Short-Circuited
More news
Sales 2020 218 B 264 B 264 B
Net income 2020 4 371 M 5 289 M 5 289 M
Net cash 2020 22 728 M 27 496 M 27 496 M
P/E ratio 2020 17,6x
Yield 2020 1,94%
Capitalization 80 493 M 97 567 M 97 379 M
EV / Sales 2020 0,26x
EV / Sales 2021 0,23x
Nbr of Employees 664 196
Free-Float 56,8%
Duration : Period :
Volkswagen AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VOLKSWAGEN AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 25
Average target price 176,53 €
Last Close Price 152,80 €
Spread / Highest target 61,6%
Spread / Average Target 15,5%
Spread / Lowest Target -8,38%
EPS Revisions
Managers and Directors
Herbert Diess Chairman-Management Board
Hans Dieter Pötsch Chairman-Supervisory Board
Frank Witter Head-Finance & Information Technology
Peter Mosch Deputy Chairman
Bernd Osterloh Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
VOLKSWAGEN AG0.25%97 567
DAIMLER AG-3.79%72 101
BMW AG-5.39%53 424
PEUGEOT SA-2.32%52 468