European carmaker Volkswagen electric vehicle strategy is playing itself out, with the carmaker’s
electric offensive picking up speed, as planned.
In September 2019, VW unveiled its new all-electric ID.3 and in November production commenced at its Zwickau electric vehicle plant.
With this major milestone under its belt, the Volkswagen brand is set to play a major role in the electric vehicle market in 2020.
The first ID.3 cars will appear on Europe’s roads in the summer of 2020.
In the coming years, Volkswagen intends to become the world market leader in e-mobility and the carmaker aims to sink in €33 billion through 2024, including €11 billion in the Volkswagen brand.
Under its latest plans, VW is targeting a production of one million electric vehicles by the end of 2023, two years earlier than previously predicted.
The Volkswagen brand has forecast a production of 1.5 million electric cars for 2025.
“2020 will be a key year for the transformation of Volkswagen. With the market launch of the ID.3 and other attractive models in the ID. family, our electric offensive will also become visible on the roads,” said Thomas Ulbrich, a Member of Volkswagen’s Board of Management responsible for E-Mobility.
“Our new overall plan for 1.5 electric cars in 2025 shows that people want climate-friendly individual mobility – and we are making it affordable for millions of people.”