Volkswagen aims to sell 22mn EV vehicles in next ten years

Herbert Diess

Herbert Diess

"Volkswagen will be boosting the pace of its transformation... taking important steps this year to strengthen competitiveness on a sustained basis", the flagship brand of the mammoth VW group said in a statement.

The German manufacturer plans to produce 22 million electric cars over the next decade, after previously mapping out a goal of 15 million cars based on its main electric-car platform for compact and mid-size vehicles.

Volkswagen reported sales of €235.8 billion in 2018, at a net profit of €12.15 billion.

Indeed, even as certain positions are cut, supervisors hope to make 2,000 new occupations in hardware and programming improvement to shape the company's reorientation, and said they would maintain an employer stability ensure substantial until 2025.

The company is pivoting to electric vehicles as it seeks to comply with new limits on carbon dioxide emissions in Europe, and a push by China for more low-emission vehicles. VW has been pushing to rein in bloated expenses to lift profitability that's trailing rivals.

The electric version of VW’s iconic Kombi camper the Buzz. Source VW
The electric version of VW’s iconic Kombi camper the Buzz. Source VW

Labour costs are a "big concern" that risk derailing a much needed streamlining of operations, VW Chief Executive Officer Herbert Diess told investors on Tuesday.

Diess, who also heads the VW brand, has been axing slow-selling models and vehicle variants to reduce complexity.

The activity cuts declared Wednesday please best of a current rebuilding program cutting 21,000 positions worldwide and focusing on 3.0 billion euros for each time of investment funds by 2020.

The new Golf's absence from the Frankfurt Motor Show does not mean VW won't have anything important to debut as that'll be the venue where the first production-ready I.D. model will celebrate its world premiere. Order books for the electric I.D. hatchback open May 8, and sales chief Juergen Stackmann said feedback from dealers is so strong that the model might be sold out before its official presentation in September.

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