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Volkswagen forecasts its sales will rise 8%-13%, an operating profit margin of 7.0%-8.5% and an increase in deliveries of 5-10% in 2022.
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Volkswagen Group will shift production to China and North America after wire harness and other material shortages from Russia's invasion of Ukraine impact European production.
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Volkswagen plans to decide on location for new plant and increase production output in the second half of 2022, reports company officials.
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Ford Motor Co. and Volkswagen AG have forged a new partnership centered on electric-vehicle and autonomous driving technology that calls for billions of dollars in investments and the introduction of a range of new vehicles.
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