Volkswagen said it will cut jobs as it launches almost 70 new electric models by...
WOLFSBURG, Germany - Volkswagen said it will cut jobs as it launches almost 70 new electric models by 2028, accelerating its rollout of zero-emission cars as earnings revealed the operating margin at its core brand had taken a hit.
The push into electromobility should help the VW brand to raise profits as it prepares to put a new electric vehicle into showrooms in 2020. Volkswagen released full earnings on Tuesday after pre-releasing some figures last month when it said its 2018 group operating profit came in at 13.92 billion euros , 0.7 percent higher than the prior year and below 14.53 billion euros forecast in a poll.
“Audi was hit particularly hard. It will probably be the end of the first quarter before all variants are available again,” Diess said.
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