Volkswagen Brand Raises Electric Car Production Target for 2025

Date : 12/27/2019 @ 10:18AM
Source : Dow Jones News
Stock : Volkswagen AG (VOW)
Quote : 118.7  -0.9 (-0.75%) @ 4:35PM
Volkswagen share price Chart

Volkswagen Brand Raises Electric Car Production Target for 2025

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   By Kim Richters 
 

Volkswagen AG (VOW.XE) said Friday that its Volkswagen brand has raised the 2025 target for the production of electric cars.

The German car maker is forecasting that it will have reached its brand target of one million electric cars by the end of 2023, which is two years earlier than planned.

The brand now expects 1.5 million electric cars to be produced in 2025, Volkswagen said.

Volkswagen group said earlier this year that it was ramping up its spending on electric and hybrid vehicles and digitalization, with about 33 billion euros ($36.61 billion) of the total investment for electric mobility.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

December 27, 2019 05:03 ET (10:03 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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