Volkswagen: raises electric car production target for 2025
(CercleFinance.com) - Volkswagen has raised its electric car production forecast for 2025, with the German carmaker saying 2020 will be a "key year" for the transformation of the group.
Under its latest strategic plans, the target of one million electric cars is expected to be reached end of 2023, two years earlier than previously predicted.
The Volkswagen brand alone expects 1.5 million electric cars to be produced in 2025.
VW said it intends to become the world market leader in e-mobility over the next few years, with the company investing 33 billion euros in these efforts throughout the group by 2024, including 11 billion euros in the Volkswagen brand alone.
In December, the Volkswagen brand delivered its 250,000th electric car since the introduction of its e-up! car line in 2013.
Volkswagen plans to continue to step up its electric offensive, with the launch of the ID.3 in summer 2020.
Its main markets so far are China, Norway, Germany, the USA and the United Kingdom.
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