Date
16 October 2018
Volkswagen plans to invest 6 billion euros (US$7 billion) in e-car production. Photo: AFP
Volkswagen plans to invest 6 billion euros (US$7 billion) in e-car production. Photo: AFP

Volkswagen group plans to build 10 million e-cars in first wave

Volkswagen plans to build 10 million electric cars based on its new modular MEB platform, targeting to launch worldwide mass production toward the end of 2022, Reuters reports.

The company will build 27 models for four group brands based on the MEB – or modular electrification kit – starting with the Volkswagen ID model that will begin rolling off the production line at its plant in Zwickau, Germany, late next year.

After the diesel emissions scandal broke three years ago, VW unveiled an ambitious plan to become a world leader in green transport. It plans to invest 6 billion euros (US$7 billion) in e-car production, of which 1.3 billion euros will be invested in its German plants at Braunschweig, Salzgitter and Kassel.

“In the first wave alone, around 10 million VW group cars will be based on this platform,” the company’s head of electric mobility, Thomas Ulbrich, said in a presentation in Dresden.

The company did not give a timeline for the forecast, but stood by its existing target of selling 3 million units per year by 2025 of the 50 battery-powered group models it plans.

Volkswagen, like other German auto makers, is pushing into volume production of electric cars as US rival Tesla struggles to scale up manufacturing of its Model 3, its first car to target the mass market.

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