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.
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.
Volkswagen plans to decide on location for new plant and increase production output in the second half of 2022, reports company officials.
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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