Volkswagen Brand Doubles EV Share Target While Maintaining Margin Goal
- VW brand aims for EVs to be 70% of Europe deliveries by 2030
- Brand seeks 6% return by 2023 as EV and digital spending rises
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Volkswagen AG’s main brand doubled its forecast for the share of purely battery-powered cars in Europe to 70% by the end of the decade, signaling it expects to be delivering well over 1 million EVs a year by then.
While the goal is less extreme than Volvo Cars and Jaguar’s goals to go electric-only in the same time frame, they’re far smaller than VW’s namesake unit, which is Europe’s biggest-selling brand. VW’s EV sales will surge elsewhere, too, to more than 50% of sales in China and the U.S. by 2030.