DEARBORN (dpa-AFX) - Volkswagen (VKW.L, VLKAF.PK, VOW.BE) said Friday that it plans to rapidly accelerate the global e-campaign once again. By 2030, the brand will increase its market share to over 70 percent of deliveries of all-electric cars in Europe - double the previous planning target of 35 percent.
In the United States and China, the brand is targeting an EV market share of more than 50 percent By 2030.
The company said that, to achieve the target, it will bring out at least one new BEV model every year. The all-wheel-drive ID.4 GTX will kick things off in the first half of 2021, followed by the sporty ID.5 in the second half of the year. The ID.6 X / CROZZ, a seven-seater electric SUV for the Chinese market, will be launched in autumn. Plans for an electric car under the ID.3 are pushed up by two years to 2025.
Volkswagen will make autonomous driving widely available by 2030.
Volkswagen said it will invest about 16 billion euros in the future trends of e-mobility, hybridization and digitalization up to 2025.
The company confirmed financial targets. The targeted operating margin of at least 6 percent is expected to be achieved by 2023 and also secured long term. The company is seeking to trim its fixed costs by 5 percent before 2023, increase factory productivity by 5 percent per year, optimize material costs by 7 percent and bring all regions into the black in the long term.
In February, Ford said it would invest $1 billion to modernize its vehicle assembly facility in Cologne, Germany, as part of its pledge to sell only electric cars in Europe by 2030.
Ford had noted that it would invest at least $22 billion globally in electrification through 2025, nearly twice the company's previous EV investment plans.
In January, GM said it would invest $27 billion in electric and autonomous vehicles in the next five years, which is up from the $20 billion planned before the onset of the COVID-19 pandemic.
GM would offer 30 all-electric models globally by mid-decade and 40 percent of the company's U.S. models offered would be battery electric vehicles by the end of 2025. The company plans to include crossovers, SUVs, sedans and trucks in its electric vehicle lineup.
Copyright RTT News/dpa-AFX
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