“o. itemList. length” “this. config. text. ariaShown”
“This. config. text. ariaFermé”
Volkswagen AG (OTC: VWAGY) describes its electric car offensive in which it plans to sell millions of cars in various global markets, the United States and China.
What happened: Ralf Brandst-tter, CEO of the company’s ID brand, and Thomas Ulbrich, a member of the board guilty of electric mobility, gave the main points in an interview published Thursday through Volkswagen, first discovered through Electrek.
The German car giant said the German car giant had the ambition to dominate the global electric mobility market and make an investment of 11 billion euros (about $13 billion) by 2024 for that purpose.
“We expect the Volkswagen logo to produce a total of 1. 5 million electric cars according to the year until 2025,” the logo said.
The company’s newest electric SUV, ID. 4, will make up 500,000 of those vehicles, he revealed.
Ulbrich said the automaker is sure of his good luck in the SUV segment, as they are the most popular cars in the United States and China, and that those cars are also gaining market percentage in Europe and Germany.
Why it’s important: ID. 4 is now available in Germany and will be manufactured in the United States in early 2022 in Chattanooga, Tennessee.
Volkswagen says the vehicle can cover a diversity of approximately 500 km.
The company’s production objectives, shared through Brandstotter, are above the production levels of existing electric vehicles. For the context, industry leader Tesla Inc (NASDAQ: TSLA) took 12 years between the launch of its first customer car and the manufacture of one million electric units. In 2019, Palo Alto-based company reported around 367,500 unit deliveries in total.
Tesla CEO Elon Musk was able to glimpse the ID line this month when he tested an ID. 3 vehicle from his assembly with Volkswagen CEO Herbert Diess.
“I think for a non-sports car, it’s pretty good,” Musk said while driving the vehicle.
Shares in prices: Volkswagen’s OTC shares closed on Thursday with a 0. 35% rise to $18. 42.
Courtesy photo: Volkswagen AG
Meet Benzinga
What Elon Musk thinks of Bill Gates’ wisdom about electric vehicles
Tesla Model Y Car” thought in depth’, Volkswagen CEO praises after driving
Bill Gates believes all-electric microphones are a ‘practical solution’
© 2020 Benzinga. com. Benzinga offers investment advice All rights are reserved.