Volkswagen ramps up fleet targets for all-electric cars
German carmaker Volkswagen plans to speed up the development of its all-electric division, which it expects to account for more than 50 percent of sales in China and the United States by 2030, the company said on Friday.
In Europe, the company target for all-electric cars is 70 percent of sales by 2030, double the previous plans. To achieve this, Volkswagen aims to launch a new battery electric vehicle every year.
"We will still need combustion engines for a while, but they should be as efficient as possible," Volkswagen brand Chief Executive Officer (CEO) Ralf Brandstaetter said, adding that the "next generation of our core products will also be fitted with the latest generation of plug-in hybrid technology, with an electric range of up to 100 kilometers."
Volkswagen said it would invest around 16 billion euros (19.1 billion U.S. dollars) in the e-mobility, hybridization and digitalization sectors by 2025. In the future, "core competencies" would be, above all, the integration of software into the vehicles as well as enabling a "digital customer experience."