Volkswagen Expects Electric Vehicles Share To Rise To 50% By 2030 - Quick Facts

Volkswagen Group expects that share of battery-electric vehicles will rise to 50% by 2030, while in 2040, nearly 100% of all new Group vehicles in major markets should be zero-emission. The target is part of its 2030 strategy. By 2050 at the latest, the Group plans to operate fully climate neutral, the company said in a statement.

By 2030, the Group plans to reduce its carbon footprint per car by 30% over its lifecycle, in line with the Paris Agreement.

At an estimated 1.2 trillion euros, by 2030, software enabled sales could add around one third on top of the expected battery-electric vehicle or BEV and internal combustion engine or ICE sales, more than doubling the overall mobility market from around 2 trillion euros today to a projected 5 trillion euros.

Volkswagen Group raised its ambition level for operating return on sales in 2025. The Group increased the original range of 7%-8% to now 8%-9% as the foundation for its Planning Round 70 in November 2021.

The Group noted that it will invest around 800 million euros into a new Research & Development facility in Wolfsburg, where the core of the SSP platform and its modules will be designed.

The SSP (Scalable Systems Platform) as Volkswagen Group's next generation mechatronics platform will significantly reduce complexity over time.

In addition Volkswagen said it will boost public charging infrastructure in Asia, Europe and America building on successful Group initiatives such as CAMS in China or Electrify America in the U.S.

By 2030, Volkswagen Group will also have systems capabilities for autonomous shuttle fleets.

In 2025, Volkswagen plans to offer its first autonomous mobility service in Europe, shortly followed by the U.S.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ontario, Canada-based Erie Meat Products Ltd. is recalling approximately 1,224 pounds of fully cooked chicken bologna products, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The chicken bologna products were imported and distributed into the United States without the benefit of FSIS import reinspection. The U. S. Food and Drug Administration or FDA has issued a public health alert against Fulvic Care Powder and Tablets from Ontario, Canada -based Black Oxygen Organics due to elevated levels of lead and arsenic. The agency advised consumers not to use Fulvic Care Powder and Tablets from Black Oxygen or give the products to pets due to elevated levels of lead and arsenic. Alexander & Hornung, a business unit of Perdue Premium Meat Co., Inc., is recalling around 234,391 pounds of fully cooked pork products citing possible contamination with Listeria monocytogenes, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves ham and pepperoni products that come under various brands and produced on various dates.
Follow RTT