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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.
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(END) Dow Jones Newswires
December 27, 2019 05:03 ET (10:03 GMT)
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