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    VOW3   DE0007664039

VOLKSWAGEN AG

(VOW3)
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Volkswagen : Core Brand Accelerates E-Mobility Shift

03/05/2021 | 05:23am EDT

By Kim Richters

Volkswagen AG said Friday that its namesake brand plans to increase the share of fully-electric-vehicle sales in Europe to more than 70% by 2030.

Up till now, the VW brand has been aiming for 35% in the same time frame.

In China and the U.S., the car brand is targeting a sales share of fully electric vehicles of more than 50% by 2030.

At the same time, VW also plans to further develop its combustion engine fleet.

"We still need the combustion engine for a certain time, but as efficiently as possible," said Ralf Brandstaetter, who heads the core brand.

Additionally, the VW brand confirmed that it plans to achieve an operating margin of at least 6% by 2023 and maintain it beyond that point. Its fixed costs should be reduced by 5% by 2023 and plant productivity should rise by 5% per year, it said.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

03-05-21 0523ET

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Financials
Sales 2021 248 B 299 B 299 B
Net income 2021 13 301 M 16 034 M 16 034 M
Net cash 2021 30 065 M 36 241 M 36 241 M
P/E ratio 2021 9,31x
Yield 2021 2,79%
Capitalization 135 B 163 B 163 B
EV / Sales 2021 0,42x
EV / Sales 2022 0,38x
Nbr of Employees 662 575
Free-Float 56,8%
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Technical analysis trends VOLKSWAGEN AG
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Average target price 263,78 €
Last Close Price 240,15 €
Spread / Highest target 29,1%
Spread / Average Target 9,84%
Spread / Lowest Target -33,4%
EPS Revisions
Managers and Directors
NameTitle
Herbert Diess Chairman-Management Board
Frank Witter Head-Finance & Information Technology
Hans Dieter Pötsch Chairman-Supervisory Board
Kurt Michels Chief Compliance Officer
Peter Mosch Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
VOLKSWAGEN AG57.56%162 796
TOYOTA MOTOR CORPORATION7.10%219 147
DAIMLER AG31.44%99 179
GENERAL MOTORS COMPANY39.00%84 596
BMW AG21.42%68 522
HONDA MOTOR CO., LTD.16.42%52 769