Working on our strategy 2030

Climate change and the rising share of electric mobility particularly in Europe, cars that drive autonomously – maybe with a general ban of human drivers – and tectonic shifts in the global geopolitical order: All these factors will transform our industry more than we can imagine today. As part of our Strategy 2030 work, me and my fellow board members spent all day Saturday discussing various future scenarios and strategic ideas to come out on the other side as winners.

I really liked the energy of the new board: We share pretty much the same view that in 2030 people will still be striving for individual mobility all across the world. We also agreed that individual mobility will become more sustainable and even cheaper, whether in terms of TCO (total cost of ownership) or MaaS (mobility as a service). And, more importantly: Customers will still love their favorite brands because they provide stability and comfort in an increasingly complex world. Moving around in grey tins will remain science fiction.

We quickly came to the conclusion that the biggest change will be the transition to Autonomous Driving. It undoubtedly will be a quantum leap and our future success – maybe even survival – will hinge on our ability to start offering autonomous driving within the next decade. If the car allows customers to spend the weekend skiing without today’s hassle of either using public transport or having to drive themselves, it will open a whole new world and customers will be willing to pay for it.

We also developed some initial ideas on what all that means for Volkswagen: The undisputed focus on software, even if that means fewer funds for other projects. Streamlining our value drivers with a clear focus on platforms, be it hardware platforms that we build our cars on, battery and charging or mobility services. In light of the dramatic shift in profit pools, we will need some general re-thinking in regard to our capital allocation, starting with an internal reporting structure that provides transparency.

This was a really good start, good atmosphere with open and constructive discussions and I’m already looking forward to the follow-up meeting.