Volkswagen has set-out its plan to leverage profitability from data as it focuses on a future of autonomous electric vehicles (EV) with its new Accelerate brand strategy.

The German carmaker’s chief executive, Ralf Brandstätter, revealed plans to cut fixed costs by 5% as part of an effort to achieve an operating margin of 6% by 2023, in a presentation this morning (March 5).

But while the OEM will look to achieve operational efficiencies in a bid to “bring all regions into the black in the long term” it also revealed ambitions that will see data-based business models tap into additional sources of income and autonomous driving made widely available by 2030.

“E-mobility was just the beginning: the real disruption has yet to come. With our strategy we will Accelerate towards the digital future,” said Brandstätter.

“In the coming years, we will change Volkswagen as never before.”