Compelling opportunity, page-2316

VW is selling 11 million cars per year.
They target 50% of new car sales to be electric by 2030.

July 13, 20217:41 PM AWSTLast Updated 22 minutes ago
Autos & Transportation
Volkswagen aims for half of vehicle sales to be electric by 2030
(VOWG_p.DE) said on Tuesday it expected battery electric vehicles to account for half of its global vehicle sales by 2030, as Europe's largest carmaker prepares to phase out combustion engine cars.

The target is part of Volkswagen's 2030 strategy, which the group unveiled ahead of a huge package of climate policies Brussels plans to announce on Wednesday, possibly including a de facto ban of petrol-based vehicles from 2035.

At Volkswagen, which aims to overtake Tesla (TSLA.O) as the world's largest electric vehicle (EV) maker by 2025, battery EVs accounted for just 3% of global sales last year.

"We set ourselves a strategic target to become global market leader in electric vehicles - and we are well on track. Now we are setting parameters," Chief Executive Herbert Diess said.

Volkswagen, whose brands include Audi and Porsche, last month said it would stop selling gas-guzzlers in Europe by 2035 and somewhat later in China and the United States as part of its shift towards EVs.