Volkswagen to refocus on raising productivity, warns of challenging 2023 – finance chief

BERLIN (Reuters) – Volkswagen will refocus on raising productivity after numerous challenging years and is targeting margin parity between electric and combustion engine cars in 2-3 years if raw material prices normalise, its finance chief said on Friday.

“The challenges will not become easier next year,” Arno Antlitz said on the sidelines of the carmaker’s extraordinary general meeting in Berlin, pointing to order books of 1.8 million in Europe with demand far oustripping the pace of supply as chip supply remained tight.

(Reporting by Victoria Waldersee, Jan Schwartz; editing by Matthias Williams)