The company's CEO said Wednesday the Stuttgart-based automaker was now engaging in a gradual re-start of production — and would continue its investment in electric cars and digitalization. He called the shift to new technologies “non-negotiable” despite the severe disruption from the virus outbreak.
Net profit was 168 million euros ($182 million), down from 2.1 billion euros in the same quarter a year earlier. Revenue fell to 37.2 billion euros from 39.7 billion euros in the first quarter of 2019.
CEO Ola Kallenius said that “now we have started with a gradual ramp-up of our production.” “At the same time," he said, "we are continuing to invest in key technologies, including electrification and digitalization. They are non-negotiable elements of our future.”