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05 Mar 2021 | 10:49

Volkswagen brand to accelerate shift to EVs

(Sharecast News) - Volkswagen's namesake brand is planning to accelerate its shift to EVs and to double its European sales by 2030. The company said on Friday that it expects fully-electric vehicles to account for more than 70% of total European vehicle sales by 2030, up from a previous target for 35%.

In China and the United States, the share of electrically-powered vehicles is set to rise to 50% by 2030, Volkswagen said.

This is part of its 'Accelerate' strategy with which the company is "increasing the speed on our path to a digital future," said Ralf Brandstaetter, head of Volkswagen.

"Of all the major manufacturers, Volkswagen has the best chance of winning the race. While competitors are still in the middle of the electric transformation, we are taking big steps toward digital transformation."
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