"We are right on schedule with the detailed preparations for this complex project and want to float Daimler Truck on the stock exchange as an independent company by the end of this year."
Volkswagen still expects to achieve a 2021 operating profit margin of between 5.5% and 7% for the group and a margin of 3% to 4% for its main brand, a spokesperson for the company said.
Speaking at the carmaker's annual shareholder meeting, Chief Executive Officer Oliver Zipse said the company plans a small production run of a hydrogen fuel-cell powered x5 SUV next year.
Most of the auto industry is focusing its efforts on developing battery-electric cars to meet tightening emission standards in Europe and China.
We have confidence in the financial and operational strength of our two vehicle divisions.
We are convinced that independent management and governance will allow them to operate even faster... and thus be significantly more agile and competitive.