Volkswagen CFO Touts EV Flexibility as Tesla Closes in on Audi

Volkswagen AG remains flexible on how it spends money earmarked for electric and combustion-engine cars as EV uptake slows in some markets, its finance chief said.

The manufacturer is seeing some reluctance on EVs in Europe and perhaps the US, Chief Financial Officer Arno Antlitz said Wednesday in an interview with Bloomberg Television. Tesla Inc. came awfully close to overtaking VW’s Audi premium brand on global vehicle deliveries last year.

“Our strategy is rather flexible and also provides robustness and flexibility going forward,” Antlitz said, adding that around a third of its investments are meant to keep combustion-engine models competitive. ...