Hyperdrive
VW Boosts Electric-Car Target by 50% With Budget, China Models
- Climate investments to offset CO2 emissions for I.D. assembly
- VW brand is investing $10 billion to develop electric cars
The electric I.D. concept-model is displayed at a Volkswagen AG media event ahead of the Beijing.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Volkswagen AG plans to widen its electric-car offering in coming years with additional models for China and a budget car costing around 20,000 euros ($22,500), as it puts pressure on Tesla Inc. to keep pace.
Rolling out the additional vehicles, the manufacturer now expects to produce 15 million cars in the first wave of its electric-car rollout, raising the goal by 50 percent, Christian Senger, VW’s electric-car chief said at an event Friday in Dresden, Germany.