Volkswagen sees reaching 1M electric cars two years sooner than predicted

Volkswagen announced that its first ID.3 electric cars will appear on Europe’s roads in the summer. “Over the next few years, Volkswagen intends to become the world market leader in e-mobility and is investing EUR 33 billion in these efforts throughout the group by 2024, including EUR 11 billion in the Volkswagen brand,” the company said in a statement. Under the latest plans, the strategic target of one million electric cars is expected to be reached end of 2023, two years earlier than previously predicted, Volkswagen announced today. The Volkswagen brand expects 1.5 million electric cars to be produced in 2025. The company added, “In connection with its electric offensive, Volkswagen has also moved into a number of strategic business areas. With its newly established subsidiary Elli, Volkswagen is forging ahead with the development of charging infrastructure. Elli already has more than 10,000 power customers. Together with its dealers, Volkswagen is also installing its own charging stations. By 2025, a total of 36,000 charging stations are to be developed throughout Europe at dealerships and plants.”