Volkswagen’s CEO, said the electric car to shift, it may not hurt margins in the printer

FILE PICTURE: Herbert Diess, will become the CEO of German car maker Volkswagen AG, which takes in a user ID.3 is a pre-production prototype at the launch of Volkswagen’s new electric car, the eve of the International motor show in Frankfurt, IAA, in Frankfurt, Germany on the 9th of September 2019. REUTERS/Wolfgang rattay/File Photo

MILAN (Reuters) – Volkswagen’s (VOWG_p.DE would be expected that the shift from the production of electric cars, aimed at averting billions of euros in Eu pollution fines and penalties to the violation of its profit margins, Chief Executive, Herbert Diess, said in a newspaper report on Monday.

“We do not expect a deterioration of the margins. Our advantage is that all our brands share the same platform for the electric products, and it is the same battery that we can buy it in China,” Diess said in an interview with the daily la Repubblica, was the Monday supplement of the A&F.

Diess, said that the German car maker expects to sell almost 20,000 of the Audi e-Tron, in 2019 at the latest, with the addition of the first of the year, the production of an electric Porsche at Taycan it was already sold out.

Pre-orders for the VW NAME.3. the group has recently unveiled a compact electric model, all of the production is planned for mid-2020, Diess said.

The previous month’s Frankfurt auto show, Germany’s premium car manufacturers, the market for electric cars as their flagship models, in order to lure customers away from gas-guzzling sport utility vehicles.

Diess also said that he has been involved in the trade war between the United States and China, which has been caused by a decline in Volkswagen’s Chinese sales even as its market share in the country had been growing over the past six months, achieving 19%.

In any event, Volkswagen has no plans to cut its exposure to the Chinese market, Diess said.

Reporting by Francesca Landini, editing by Louise Heavens

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