Press Release

July 6, 2023

Volkswagen Financial Services: Expansion of charging infrastructure progressing rapidly

The 200th charging point in Braunschweig has now been put into operation

Around 500 charging points planned in the medium term

Electricity comes 100 percent from renewable sources

Braunschweig, 6 July 2023 – Volkswagen Financial Services AG (VW FS AG) is pressing ahead with the vigorous expansion and densification of the charging infrastructure for electric vehicles at its Braunschweig location. Today marked the official inauguration of the 200th charging point by Dr. Christian Dahlheim, Chairman of the Management Board of VW FS AG, the Chairman of the Joint Works Council Andreas Krauß, and Braunschweig's Mayor Dr. Thorsten Kornblum. Volkswagen Financial Services will continue to step up the pace of installation and set up an additional 290 charging points, which will then give the company around 500 in operation in Braunschweig in the medium term.

"The electric vehicle family in the Volkswagen Group is growing – the ID.7 from Volkswagen and the Audi Q8 e-tron are the latest additions to the market. But this also entails an adequate charging infrastructure. We're not just talking about it, but are increasingly taking action ourselves," said Dahlheim. He added: "We assume that around 20 percent of all charging operations take place at the workplace. That's why company commitment is so relevant. It's also important that all charging stations are fed with electricity that comes 100 percent from renewable sources."

154 of the charging points, most of which are rated at 11 kW, are intended primarily for Volkswagen employees. 46 of the charging points are publicly accessible to guests and customers on the VW FS campus in the north of Braunschweig and at the data center in Rautheim. There are now also six public charging points that have either 22 or 50 kW of charging power.

As Dr. Thorsten Kornblum pointed out, "The comprehensive provision of charging infrastructure is essential to ensure that electromobility can also catch on in Braunschweig. Electromobility makes an important contribution to achieving the ambitious goals of our climate protection concept for Braunschweig. I am pleased that companies like Volkswagen Financial Services are also taking responsibility for moving towards more environmentally compatible mobility."

Christian Dahlheim and Joint Works Council Chairman Andreas Krauß were unanimous on the following point: "As an automotive financial service provider, it is particularly important for us to take a leading role in enhancing the charging infrastructure in Braunschweig. In doing so, we promote the sustainable mobility of our workforce and at the same time increase the attractiveness of our location. We also hope that other companies in Braunschweig will follow our example because workplace charging is a key to the breakthrough of electromobility."

Outlook for e-mobility

Volkswagen is the first automotive group to commit to the Paris Agreement on Climate Change and intends to become net climate neutral by 2050. By 2030, the Group plans to increase the share of purely electric vehicles in its deliveries in Europe to more than 70 percent. The Volkswagen brand alone intends to introduce ten new VW e-models to the market by 2026 – including an entry-level model for around EUR 25,000.

From the left: Dr. Alexandra Baum-Ceisig (Member of the Management Board of Volkswagen Financial Services AG responsible for Human Resources and Organization), Andreas Krauß (Chairman of the Joint Works Council of Volkswagen Financial Services AG and Volkswagen Bank GmbH), Dr. Thorsten Kornblum (Mayor of the City of Braunschweig), Dr. Christian Dahlheim (Chairman of the Management Board of Volkswagen Financial Services AG)

Information for editors

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial service business of the Scania brand and of Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management and mobility services. Volkswagen Financial Services have a total of 17,713 employees worldwide – including 7,692 alone in Germany. Volkswagen Financial Services report total assets of around EUR 240 billion, an operating profit of EUR 5.60 billion, and a portfolio of around 22.0 million current contracts (as at: 31.12.2022).

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