Volkswagen CFO believes that the group has made financial preparations for electrification and plans to obtain more funds.

On September 30, according to foreign media reports, although Herbert Deiss, who advocated the development of electric vehicles, has no longer served as Volkswagen CEO, the Volkswagen Group led by his successor Oliver Bloom is still promoting their electric vehicle strategy and accelerating the transformation to electric vehicles.

The latest foreign media reports show that in the development of electric vehicles, Volkswagen Group CFO, Arno Antlitz, which began to play the role of COO on September 1, said he believed that the group had made financial preparations for electrification.

Foreign media said in the report that through the funds obtained by its brand Porsche IPO and relatively high operating profit margins, it will be possible to continue to invest in electrification.

In the report, foreign media mentioned that Volkswagen Group received about 9.6 billion euros through Porsche IPO, and their current operating profit margin is 7-8.5%, which will provide financial support for their electrification.

Although Porsche IPO has received about 9.6 billion euros and Volkswagen Group itself has made considerable profits, foreign media reported that Arno Antlitz still plans to obtain more liquidity to provide financial support for electrification. Volkswagen is also considering promoting IPO, its battery business unit, but Arno Antlitz did not disclose a timetable.