Hi there,
Glad to have you on board and that you find it valuable! No worries, you can ask away - no question is a bad question.
I think VW is a great auto company. As you pointed out, it is investing heavily in EV and will no doubt become an industry leader. Unfortunately, sales at VW dropped by 15% YOY yet it has more than recouped its post-pandemic losses and is up 15% over the past year. This isn't unique to VW though and I think the markets current exuberance interesting. All signs point to a slowed economy, yet aside from very specific industries the markets in general are all trading well above 2019 levels despite declining growth.
That being said VW isn't exactly expensive. It is trading at 12 times forward earnings and 1.2 times forward sales. This is a fraction of the price folks are paying for pure EV plays. I actually prefer investing in a stock like VW which is likely to transition into a successful EV company, than some of these EV plays that are trading for astronomical prices, barely generate revenue and won't even come close to profitability for at least 5 years if not more. The auto manufacturer landscape is changing and those traditional companies that make the change (like VW) are well positioned to reward investors.
Mat