Audi latest to shun Europe with EV production move to US
Audi chief executive Markus Duesmann suggested the firm could seek new production sites in the US, dealing the latest blow to the European market
Company
Volkswagen Group
XETRA:VOW
The Volkswagen Group with its headquarters in Wolfsburg is one of the world’s leading automobile manufacturers and the largest carmaker in Europe. In 2014, the Group increased the number of vehicles delivered to customers to 10.137 million (2013: 9.731 million). The share of the world passenger car market amounts to 12.9 percent. In Western Europe, more than one in four new cars (25.1 percent) is made by the Volkswagen Group. Group sales revenue in 2014 totaled €202 billion (2013: €197 billion), while profit after tax amounted to €11.1 billion (2013: €9.1 billion). The Group comprises twelve brands from seven European countries: Volkswagen Passenger Cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN.
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Volkswagen to spend US$100bn on electric vehicles over next five years
It aims for 25% of all vehicles sold to be electric by 2026