VW is on a solid footing, CEO Blume says

BERLIN — Volkswagen Group CEO Oliver Blum said at Friday’s extraordinary general meeting that the group is on a solid footing. Software and Platform Strategy.

Pointing to the need to diversify in light of geopolitical tensions, Bloom said, “We are committed to a balanced global presence with a strong third leg in Europe, China and North America. It is working.

Bloom said a decision on the location of a planned battery plant in Eastern Europe is expected this year but will come “soon”, though he said the automaker delayed it last week.

Shareholders met in Berlin and voted at an extraordinary shareholders’ meeting to pay a special dividend of €19.06 ($20.28) per share from the proceeds of the Porsche listing.

As widely expected, a total of €9.6 billion, or 49% of the proceeds of the listing, will be paid out in January if shareholders vote in favor.

In a speech released ahead of the conference, Chief Financial Officer Arno Antitz said that since its listing, Porsche’s rising valuation on the stock market has proven the brand’s value, but it also proves to the market Volkswagen’s potential. said it must be done.

“It was important to make Porsche’s true value visible, but it also made it clear that Volkswagen’s current valuation is unbalanced. We want to change that.”

VW shareholder DWS, which owns about 2% of the automaker’s stake, pointed to governance issues that they and other investors highlighted before going public, according to Eikon data. It’s an automaker’s rating.

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