14.5.2019. The Supervisory Board and the Board of management of Volkswagen AG yesterday made important decisions for the future of the Volkswagen group.
The Volkswagen group will be taking forward in the context of its electric Offensive in the structure of a battery cell production with a partnership in Europe. For this purpose, the Supervisory Board has approved in its meeting yesterday, at an investment of nearly one billion euros. It is planned that such a battery cell manufacturing to locate in lower Saxony (Salzgitter). In addition, it was decided, in the specific negotiations about the proposed new multi-brand plant in Europe, with the remaining potential sites.
The Supervisory Board instructed the management Board to start the process, in order to develop for YOU Energy Solutions (ES) and Renk, a future-oriented, industrially viable solution. Here, the opening of a future – and growth prospects for mechanical engineering in the group, such as through a Joint Venture, partnership or a partial or complete divestiture in the focus.
It was, therefore, decided that an IPO of the TRATON SE to prepare and, subject to the further capital market development, before the summer of 2019.
“Today we have agreed to in the Supervisory Board, key strategic decisions for the Volkswagen group. As part of our extensive range of electrical Offensive, we want to secure our battery capacity in the context of strategic partnerships. In addition, we intend to expand our production capacity in Europe to support our growth plan. The focus on the core business is essential against the Background of an increasingly complex industry and the corresponding challenges,“ said Chairman of the Supervisory Board Hans Dieter Pötsch.
Volkswagen ID. (Photo: Volkswagen AG)
“The automotive industry is in a fundamental change, we also bring in Volkswagen with vehemence. As consistently as no other automotive manufacturer, we are pushing forward the electrification and digitisation of our fleet. At the same time, we want to build in the coming years in terms of innovative mobility services, innovative business fields. It comes to the Volkswagen group, so that we help to shape the comprehensive Transformation of our industry at this crucial position. The decisions made today are important milestones for the future of Volkswagen,“ said the Chairman of the Board of Volkswagen, Herbert Diess.
The General and group works Council Chairman Bernd Osterloh said: “the employee representatives on The Supervisory Board welcome the decisions and support them explicitly. It is soft findings, with which we can develop both employment security as well as efficiency in a sustainable manner.“
Lower Saxony’s Prime Minister Stephan Weil, said: “today’s decision of the Supervisory Board is a breakthrough for the battery cell production in lower Saxony. For the Autoland, no 1, the production of battery cells is imperative. For the location in Salzgitter, the positive signal. I am very confident that the battery-cell place of production in Germany at competitive conditions.“
Volkswagen ID.3 (photo: Volkswagen AG)
