Volkswagen announces intention to develop 10mn EV vehicles by 2022
The Germany-based automotive manufacturer, Volkswagen, has announced plans to develop 10mn electric cars based on its new modular MEB platform, in a bid to launch worldwide mass production by the end of 2022, CNBC reports.
The firm revealed it will build 27 different models for four group bands based on the MEB, beginning with the Volkswagen ID model, which is expected to be released off the production line at its Zwickau facility in Germany towards the end of 2019.
Volkswagen head of electric mobility, Thomas Ulbrich, said: “In the first wave alone, around 10 million VW group cars will be based on this platform.”
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The company aims to become a world leader in green transport and plans to invest approximately €6bn ($7bn) in e-car production, with around €1.3bn of that figure set to be invested at its German plants in Kassel, Salzgitter and Braunschweig.
Volkswagen has reaffirmed its target of selling a total of 3mn units per year by 2025 of the battery-powered group models it plans, however, the firm did not give an official timeline for the prediction.
It is also expected that BMW and Daimler will expand their e-car output over the next few years.