Volkswagen CEO Sees EV Delivery Time To Shorten: CNBC

by Shivani Kumaresan, Benzinga Staff Writer

July 8, 2022 6:44 AM | 1 min read |

Volkswagen AG VWAGY Chief Executive Officer Herbert Diess said delivery times for electric vehicles are likely to get quicker, CNBC reported.
Semiconductor shortage has been a major roadblock for automotive manufacturers to match demand and supply.
"We're trying to keep delivery times short," the report quoted Diess, "but we have a lead time of a year or so currently, so we are ramping up production."
The CEO also added that the demand for electric vehicles has shot up in Europe and the U.S.
The report noted Volkswagen expects to garner at least 70% of its European revenue from electric cars and 50% in China and North America by 2030.
Price Action: VWAGY shares closed higher by 5.49% at $18.24 on Thursday.
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