Volkswagen to overtake Tesla as world's largest EV maker in 2025
German car-making giant says EVs will account for half of its global sales by 2030Volkswagen Group has announced it expects to become the world's largest pure-electric car-maker by 2025, despite EVs only accounting for three per cent of its global sales in 2020.
Revealing its new strategy that it will implement from now until 2030, Volkswagen also said that by 2030 half of all the cars it makes will come with battery power.
"We set ourselves a strategic target to become global market leader in electric vehicles – and we are well on track. Now we are setting parameters," said group chief executive Herbert Diess.
As well as overtaking the more established Tesla as the world's biggest EV producer, Volkswagen also said that, thanks to cost sharing within all its brands (including Skoda, Audi and Porsche), it had raised its operating profit target on sales for 2025 to 8-9 per cent, up from its original 7-8 per cent goal.
As well as announcing its more optimistic ambitions for EVs, Volkswagen said it planned to build six large battery factories in Europe by 2030, revealing it would work with China's Gotion High Tech to build its planned plant in Germany. A further factory could also be built in Spain, VW announced.
As well as the new targets, Diess said the Volkswagen Group would transition into what's described as a "software-driven mobility company".
The plan is thought to include generating new revenues based on its connected services by selling car features and services through the internet.
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