FRANKFURT: Volkswagen will tweak its strategy to maintain investment momentum for developing electric and autonomous cars as it tries to make up for lost revenues caused by the coronavirus pandemic, the company’s chief executive said.The multi-brand car and truck maker, which owns the Bentley, Bugatti, Porsche, Skoda, Lamborghini and Audi brands, is preparing a strategy meeting next week to discuss long-term trends and implications for manufacturing, investment and sales.”There are several million cars missing in our planning,” Herbert Diess said on Thursday, adding that sales in some markets are not seen recovering to pre-crisis levels until 2023.To compensate, Volkswagen will have to slim down its model range, a step which will have implications for some of the carmaker’s manufacturing plants, Diess said.Volkswagen is doubling electric vehicle sales this year and will double them again next year, he said, adding that electrification will encompass even niche brands.”Bentley is becoming within the next four to five years an electric brand,” Diess said.Volkswagen is also seeking to catch up with Alphabet’s autonomous driving unit Waymo in the race to develop a self-driving vehicle.The auto industry will see self-driving cars emerge in the next five to 10 years, Diess said, adding that he currently… Read full this story
- VW Will Build EVs At 16 Different Factories By Late 2022
- Alphabet gives newly installed CEO Sundar Pichai $240million in stock awards over next three years just weeks after Google co-founders Larry Page and Sergey Brin relinquished control of search engine's parent company
- Does America Really Know What It’s Doing With Electric Vehicles?
- United Plantations' CEO aims to clean up palm oil's act
- TAKALA: Think Google Controls The News? It’s Worse Than You Think, Experts Say
- Big Auto News Headlines Of 2019
- 4 Indian-origin women make it to Forbes list of top female tech titans of US
- Value picks: Here are 12 names that experts are betting on for 2020
- What is edge computing? Here's why the edge matters and where it's headed
- Volkswagen is said to be considering options for Lamborghini
VW CEO says will tweak strategy to maintain electric, autonomous push have 335 words, post on energy.economictimes.indiatimes.com at November 5, 2020. This is cached page on VietMaz. If you want remove this page, please contact us.