VW’s EV aims

Volkswagen plans to pick up the pace on EV sales, especially in Europe where it wants to have 70% share of battery electric vehicles (BEVs) by 2030 – double its previous aim of 35%.

That means VW expects to be delivering more than a million EVs a year by then.

It also expects half of its vehicle sales in China and the US to be EVs by 2030 too.

VW brand leader Ralf Brandstaetter says they’re stepping up the pace on EV, with other automotive manufacturers such as Volvo Cars and Jaguar going all-electric and Ford and General Motors also planning big changes.

VW’s new target follows a year in which Europe passed China as the world’s biggest market for EVs, BloombergNEF reports.

It says VW typically sells about 1.8 million cars annually in Europe, compared with about 960,000 for Ford and 340,000 for Volvo.

VW also aims to return to profitability after losses in some markets especially as the COVID-19 pandemic saw temporary factory shutdowns and other issues arise.

It wants to deliver an operating profit margin of 6% or more in 2023, increase investments in electrification and digital services and reduce fixed costs along with material expenses.

The ID.3 hatchback was VW’s first from its EV platform to go on sale with the all-wheel drive ID.4 SUV and the ID.5 crossover due this year – all unlikely to reach New Zealand before 2022.

The seven-seat ID.6 X will be sold in China later this year and VW also plans a smaller EV priced  around 20,000 euros in 2025.

VW plans to launch at least one BEV annually and is investing about 16 billion euros by 2025 in areas such as electric mobility and digitisation.