新能源车交付前夜 大众每天都在“算账”

Core Viewpoint - Volkswagen Group is undergoing a significant transformation in China, focusing on cost optimization and the transition to electric vehicles, while facing challenges in profitability and market competition [2][4][10]. Investment and Financial Performance - Volkswagen Group's third-quarter financial report indicates ongoing performance decline, with a notable investment of €50 billion in transformation efforts in China [2][3]. - The CFO of Volkswagen China, Patrick Heinecke, emphasizes the importance of establishing a sustainable profit model in the Chinese market, which is crucial for the global transformation success [2][3]. - Investment returns from joint ventures in China are projected to decrease from €2.6 billion in 2023 to €1.7 billion in 2024, with further declines expected in 2025 [7]. Sales and Market Strategy - Volkswagen aims to increase the share of electric vehicle sales from 5% to double digits by 2026, with over 20 new electric models planned [3][4]. - The profitability of electric vehicles is expected to remain lower than that of traditional fuel vehicles during the transition phase from 2025 to 2026, with a target to achieve parity by the end of the planning cycle, likely around 2030 [3][4]. Cost Optimization Efforts - The current focus for Volkswagen China is on meticulous cost analysis and optimization, with a significant reduction in costs by 40% compared to previous global platforms, aiming for a 50% reduction in the long term [3][11]. - The management team is actively engaged in product workshops to analyze cost details and predict pricing, indicating a shift towards a more cost-conscious operational approach [4][10][12]. Challenges and Future Outlook - Despite the anticipated growth in electric vehicle sales, Volkswagen acknowledges that the scale of electric vehicle production is still insufficient to match the profitability of fuel vehicles, necessitating careful management of R&D and investment expenditures [7][10]. - The competitive landscape in the A-segment market is particularly fierce, impacting profit margins, while Volkswagen expects joint venture profits to rebound to €2 billion by 2027 and reach €3 billion by 2030 [7][8]. Technological Investments - Volkswagen is committed to maintaining core technology in software development and has announced new investments, including a $200 million collaboration with Horizon for system-level chip design [13]. - The establishment of a new Porsche R&D center in Shanghai signifies Volkswagen's dedication to enhancing its local value chain and technological capabilities in China [13].