Volkswagen CEO Thomas Schaefer has announced that from 2033 the company will only manufacture fully electric vehicles (EVs) in Europe.
Volkswagen plans to launch 10 new electric models by 2026, including an entry-level model that the automaker wants to sell for less than 25,000 euros ($25,161), according to Schaefer.
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There will be two variants of the entry EV – a hatchback and a crossover.
According to Schaefer, the automaker will release a facelift of the ID3 compact hatchback next year – this car is the first of a new generation of fully electric cars.
“This model will be a huge improvement in terms of quality, materials and system stability,” he said.
VW is also working tirelessly on a crossover version of the ID3, Schaefer said.
VW's journey to electrification encountered some challenges when it introduced the all-electric ID series, intended to compete with Tesla. The ID3 began deliveries in 2020.
Schaefer said VW will shift its production emphasis from building one model per factory to “platform thinking,” which refers to using the same basic design for different models.
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He noted that bringing vehicles of different brands to the same factory would reduce costs since "there is waste that we can eliminate."
Schaefer also said that over the next decade, the Volkswagen Group's volume brands will reduce the number of models available to focus on core models. The goal is to increase the profit margin for all volume brands —VW, Seat, Skoda and commercial vehicles— to 8 percent by 2025.
“By doing less, we can achieve more,” he said.
See also: Ford: Increased demand for its electric vehicles
Volkswagen has previously said that from the middle of the next decade, it will only make electric vehicles. Most automakers are now producing electric cars, and more and more people are choosing them. It's not hard to see why. Not only do they save money on gas, but they're also better for the environment.
Yesterday, Ford also announced that it will place more emphasis on its electric vehicles , even stopping production of the iconic Ford Fiesta.
Source: europe.autonews.com
