EV laggard VW is now demonstrating the true passion of the converted as it pushes deeper into electric vehicle making. The German auto manufacturer has announced that it will build 22m EV over the next 10 years, up 7m on its previous target. It will also boost the number of electric vehicle models it makes.
“We will significantly step up the pace of our transformation so as to make our company fit for the electric and digital era,” says company COO Ralf Brandstätter.
VW explained recently that i plans to invest $50bn over the next five years to transform itself into an EV maker, with strategy chief Michael Jost, adding that the company “was gradually fading out combustion engines to the absolute minimum”.
At the start of this year, the company launched a new unit, Elli, to provide energy offerings from renewable sources along with smart charging solutions.