Autos

Volkswagen faces careful ‘balancing act’ to reach its electric future

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Volkswagen’s top finance executive has underlined how important it is for the automaker to carefully transition to electric vehicles while not hurting its ability to make money.

In an interview with CNBC’s Carolin Roth on Wednesday, Chief Financial Officer Frank Witter was asked how the firm would offset the negative impact that its shift to electrification might have on its targets for profit margins.

“We gave guidance for 2020 and 2025, it is a balancing act with more electric vehicles coming to market and the different level of profitability,” he told CNBC.

“We have efficiency programs for all brands and everybody is committed to deliver on it, but what’s key is that the product is…



Source cnbc.com

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