Shulou(Shulou.com)11/24 Report--

CTOnews.com May 4 news, Volkswagen today announced financial results for the first quarter of 2023, first-quarter revenue increased 22% to 76 billion euros (CTOnews.com Note: currently about 580.64 billion yuan); operating profit is 5.75 billion euros (currently about 43.93 billion yuan), operating profit margin is 7.5% BEV (pure electric vehicle) deliveries rose 42 per cent to 141000 (7 per cent of total deliveries) in the first quarter.

Arno Antlitz, Volkswagen's chief financial officer, said after the results that the performance in the first quarter was encouraging and that Volkswagen was "quite confident" to meet all its 2023 financial targets with a backlog of 1.8 million car orders in Europe, according to reports from CNBC, Bloomberg and others.

Antriz also said that although Volkswagen's delivery in China fell 14.5% in the first quarter of 2023, it is confident that it will resume sales for the rest of the year as it expands its range of models and unique Chinese technology. 'The focus is to distinguish between China's fuel vehicle market and the pure electric vehicle (BEV) market, where Volkswagen needs to catch up with its competitors, 'Mr. Antriz said.

"We have a slow start in China." "I just got back from Shanghai (2023 Shanghai Auto Show), and I stayed there for three days, saw competitors' cars and talked to local teams, and it was clear that we needed to accelerate, especially in the field of pure electric vehicles," Antriz said. "

According to previous reports from CTOnews.com, Volkswagen said in its financial report that under the leadership of "In China for China", the group has introduced a new "100% TechCo" project, which combines research and development of vehicles and parts with procurement, which is expected to reduce the development time of new products and technologies by about 30 per cent. The group plans to invest 1 billion euros (currently about 7.64 billion yuan) to establish a new fully connected electric vehicle innovation center, headquartered in Hefei. Volkswagen will also accelerate the development of self-driving in China and accelerate the software development of specific technology concepts in China.

Volkswagen Group is developing a new Chinese sub-brand in the field of high-end electric vehicles to strengthen its position in the Chinese market, Automobilwoche reported. According to the amount of risks on the terminal, BYD passenger cars in the first quarter of 2023 surpassed the combined risks of FAW-Volkswagen and SAIC-Volkswagen, officially ranking first in China's auto sales brand.

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