The German automaker has announced that it will increase its focus on new Volkswagen EVs as part of its 2025 strategy.
Volkswagen has announced that it will increase its focus on electric-powered cars as part of its 2025 strategy. Speaking at the annual general meeting of the Wolfsberg, Germany-based automaker, chief executive officer Matthias Mueller revealed its target to create one in three of its cars powered by electric motors by 2025.
“We expect that by then we will be selling about two to three million pure-electric automobiles a year,” he added. “This will account for a significant share – an estimated 25 per cent – of our total sales volume. We are stepping up our efforts accordingly and will launch a multi-billion euro investment programme.”
The news comes as many automakers across the world scramble to join the in-demand EV market, headed by the likes of Tesla. Utility Week projects that the market will be worth $500 billion by 2026, forecasting a major swing in the overall car market towards alternative fuel sources away from fossil fuels. Volkswagen also confirmed it will fit all of its new TSI and TFSI petrol engines with gasoline particulate filters from June next year to help significantly reduce emissions.
There have been plenty of traditional carmakers that have already embraced electric power, such as Nissan with its game-changing Leaf model, or VW’s fellow countrymen BMW with their ‘i’ Range. Volkswagen themselves have tried their hand at EVs with models such as the Volkswagen e-Up! and e-Golf, but for the company to sell a third of its cars as electric, it will have to look into larger models such as its SUV range. Perhaps this is an indication of what to expect next from Volkswagen.
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