. Stock News -VOLKSWAGEN AG Price & Technical Analysis

Stock News -VOLKSWAGEN AG Price & Technical Analysis

11 Oct 2022

Volkswagen targeting 20-30% automation at new electric vehicle plant

Volkswagen (ETR:VOWG_p) is looking at automating 20-30% of production at its upcoming Trinity plant near its Wolfsburg headquarters, the plant’s chief production officer said on Tuesday.

“Assembly is still 90% manual work,” Sebastian Schmickartz said at a suppliers summit in Wolfsburg. “This is what we want to change with the new factory. We are looking at 20-30% automation.”

The Trinity plant, where the German carmaker will build a new flagship electric sedan, is due to begin pre-series production in 2025, with the official start of production in 2026.

The key to automating more of its assembly line will be moving to a module-based strategy, Schmickartz said, condensing 50 parts into one through techniques like die casting to produce front-end, back-end and roof modules.

Volkswagen brand production chief Christian Vollmer told Reuters earlier this year the carmaker hoped this production strategy would help boost its productivity and keep its upper hand in the European market.

VOLKSWAGEN AG Technical Analysis: Daily Chart

In the daily charts, VOLKSWAGEN AG was trading in up channel. VOLKSWAGEN AG is currently trading below all SMA.

RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 160.30 & the resistance level is at 170.22.

VOLKSWAGEN AG was trading in down channel before there is breakout downside.   

How to Trade VOLKSWAGEN AG this Week:

VOLKSWAGEN AG will follow the down channel until there is trend reversal. So, remain bearish on VOLKSWAGEN AG.