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Volkswagen: E-mobility To Match Profitability Of Combustion Engine Business Earlier Than Planned

Speaking at the Annual General Meeting, CEO Herbert Diess said the Volkswagen Group (VKW.L,VLKAF.PK,VOW.BE) is making good progress with its transformation into a sustainable, software-centric mobility provider, despite a challenging environment. He said the company will continue to forge ahead with its realignment in 2022.

Herbert Diess noted: "We expect the e-mobility business to match the profitability of our combustion engine business earlier than planned. Because we are rolling out our e-mobility toolkits across the board, converting a growing number of production plants and selling our technology to competitors such as Ford."

The Board of Management and the Supervisory Board proposed to the Annual General Meeting to increase the dividend compared with the previous years to 7.50 euros per ordinary share and 7.56 euros per preferred share.

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