Volkswagen CEO Herbert Diess does not want to write off the financial year completely despite the Corona crisis. Diess said in a podcast with journalist Gabor Steingart whether the group will achieve its profit targets for 2020 can only really be estimated if the duration of the “shutdown” can be predicted.

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Gabor Steingart Podcast – listen here >>

“If you assume that the crisis will be dealt with as quickly as China, then you can certainly get away with a black eye,” said Diess. “If you naturally assume that we will have a shutdown here for months, it will be difficult.”

In China, VW sees itself on the ascent again after easing restrictions on the economy. “China is going strong again for us,” said the manager. “We manage the ramp-up there.” In the rest of the plant network, too, VW is preparing technically for the restart of production. “In such a production many people meet, you have to separate them. We need protective equipment, we have to change processes, we make new shift models. All of this has to be prepared.”

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According to Diess, the VW group should not initially run out of money. “We don’t run dry quickly,” he said. In comparison, VW is relatively robust in terms of liquidity. State aid would not be discussed in the current situation at VW.

In Europe and North America, automakers and most suppliers have shut down production for the coming weeks. Volkswagen also has several plants in the group in northern Italy and Spain that are particularly affected by the crisis. (dpa / apa / red)

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