Volkswagen is in a weird spot at the moment. It's heavily investing in EVs, it has a new family of them making its way to market, and customers are buying them in large numbers. But the company's profits are hurting. So what gives?

 

The cold, hard reality is that its EVs just aren't very profitable. So even with massively improved EV sales—the company sold 209,100 of them globally last quarter, up 19.6% year-over-year—that doesn't help VW much. The company was blunt about that this week.