Volkswagen to speed up electric vehicle transition, new CEO says

Oliver Blume, CEO of luxury car manufacturer Porsche AG, speaks at the Automobilwoche car summit in Ludwigsburg, Germany, Nov 10, 2021.BERLIN – Volkswagen will accelerate its transition towards electric vehicles, but needs to find the right "rhythm" as it makes the shift, new Chief Executive Oliver Blume said at an internal conference on Thursday , the first day of his tenure.

"I am a fan of e-mobility and I stand by this path...we will keep the current pace and, where possible, increase it," Blume said. Blume, CEO of Porsche since 2015, is an advocate for synthetic fuels, raising questions upon his appointment to the helm of the Group over whether he would water down the strong focus of former boss Herbert Diess on battery-electric vehicles.

Volkswagen must find the right rhythm for a stable transformation by defining and following through on a clear strategy, he added in his speech in Lisbon, which was peppered with references to the importance of teamwork and collaboration.

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