Volkswagen CEO Ralf Brandstätter has announced that the company is showing great form in its transformation into being a ‘tech company’ under its Accelerate programme. He says VW is: “Much more profitable, more crisis-resistant and more effective than we were in 2020. With Accelerate, we have once more stepped up the pace of our transformation into a tech.”
The company has said that important milestones were achieved in 2021 with respect to the key elements of e-mobility, digitalisation and new business models. At the same time, the company gave a sustained boost to efficiency in a challenging competitive environment: There was an appreciable increase in sales revenue, return and operating profit in the last fiscal year despite significantly lower unit sales.
“2021 was an extraordinary year. In an extremely demanding environment, we not only stayed on course in operating terms, but also gave our efficiency a sustained boost. Today, we are much more profitable, more crisis-resistant and more effective that we were just a year ago. At the same time, we have once more stepped up the pace of our transformation into a tech company with the Accelerate strategy”, Ralf Brandstätter, CEO of Volkswagen Passenger Cars, said. “In 2022, we will continue to forge ahead with our transformation and with strengthening our resilience. However, it is not possible at the present time to predict the course of the war in Ukraine and, more particularly, the impact on supply chains and the global economy as a whole. But we laid a robust basis in 2021 to master this crisis, too.”