MUNICH (Dow Jones) — With the new platform for electric vehicles (SSP), Volkswagen wants to achieve the same margin as with vehicles with internal combustion engines right from the start. “With SSP, we will almost consistently achieve margin parity or even higher margins,” said CEO Oliver Blume to journalists on the sidelines of the IAA Mobility. With the current MEB plus and PPE platforms, this will not yet be the case for all products, but it will be the case for some of the products. A specific year when all electric vehicles will have the same level of profitability as combustion engines cannot be given.
Blume sees a very decisive advantage for VW in the increasing competition in the brand core of the Wolfsburg group. “We sharpen our brands through identities in different countries,” said Blume. VW’s strategy of building an “icon strategy” is particularly important. “We have millions of fans all over the world, which is a great way to differentiate ourselves from other manufacturers,” added the manager, referring to the sporting goods industry, where, for example, Adidas or Nike are reviving well-known brands and products from the 1980s and 1990s today – and do good business.
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(END) Dow Jones Newswires
September 04, 2023 05:30 ET (09:30 GMT)
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