The German auto manufacturer, Volkswagen, has announced plans to expand its electric vehicle (EV) range by 2028.
In nine years, the company aims to have introduced 70 new electric models to its portfolio, the firm stated in a press release.
Volkswagen had previously revealed plans to launch 50 new models. The firm now intends to sell 22mn fully EVs by the deadline.
“Volkswagen is taking on responsibility with regard to the key trends of the future – particularly in connection with climate protection,” stated Dr. Herbert Diess, CEO of Volkswagen AG.
“The targets of the Paris Agreement are our yardstick. We will be systematically aligning production and other stages in the value chain to CO2 neutrality in the coming years.”
“That is how we will be making our contribution towards limiting global warming. Volkswagen is seeking to provide individual mobility for millions of people for years to come – individual mobility that is safer, cleaner and fully connected.”
“In order to shoulder the investments needed for the electric offensive we must make further improvements in efficiency and performance in all areas.”
Following recent emission tests led to VW’s operating margins falling. The firm’s profit margin dropped by 0.4 percentage points, from 4.2% to 3.8%.