VW ups EV targets

Half of Volkswagen’s sales are expected to be battery electric vehicles (BEVs) by 2030.

By 2040, the company expects almost 100% of its new vehicles in major markets will be zero-emission vehicles in its aim to be carbon neutral by 2050, CNBC reports.

VW has earmarked 73 billion euros for development of future technologies between 2021 and 2025, which makes up half of the company’s total investments.

Cars are getting closer to autonomy and mobility as a service (MaaS) will increase, Volkswagen chief executive Herbert Diess tells CNBC.

VW is developing three software platforms, with an aim to develop one for use across all its cars by 2025, the software possibly becoming a major income source for the industry by 2030, with up to 40 million vehicles expected to be operating on the group’s software platforms within the next decade. 

VW also plans six gigafactories across Europe by 2030, including battery production.

The Skelleftea factory in Sweden to be run by Northvolt is likely to start production in 2023, with a second opening in Germany for operations around 2025.

Volkswagen’s announcements come as part of its 2030 strategy, with the European Commission ramping up CO2 emission reduction policies.