VW accelerates electric plans

Volkswagen expects fully electric vehicles (EVs) to make up 70 per cent of its European sales by 2030, which doubles its previous target for battery-powered models.

It also wants pure EVs to account for half of all its sales in China and the United States by the same date.

VW is the latest carmaker to join the rush for zero-emissions models after unveiling its “Accelerate” strategy as it strives to become the world’s leader in EV production.

Ralf Brandstaetter, chief executive officer of VW passenger cars, says the company is “increasing the speed on our path to a digital future”.

He adds integrating data and software functions into cars will open new sources of revenue for VW, which plans to offer self-driving vehicles and wants to develop its own operating systems, reports Reuters.

“If you place that into the hands of a third party you can no longer develop these business models yourself,” says Brandstaetter, pictured.

VW intends to spend €16 billion (NZ$26.6b) in the future trends of e-mobility, hybridisation and digitalisation up to 2025.