Volkswagen vows to build 22 million e-cars over next decade

Combined Shape

FRANKFURT, Germany (AP) — German automaker Volkswagen said Tuesday it plans to ramp up its production of electric vehicles over the next ten years to 22 million and reduce its carbon footprint over vehicle life cycles by 30 percent.

Previously, the company said it would aim for 15 million. That was ambitious in itself given that it made fewer than 50,000 battery-only vehicles last year.

The company is pivoting to electric vehicles as it seeks to comply with new limits on carbon dioxide emissions in Europe, and a push by China for more low-emission vehicles.

The company also disclosed that operating profit at its core Volkswagen brand, one of 12, fell to 3.2 billion euros ($3.6 billion) from 3.3 billion last year as the company faced bottlenecks certifying vehicles under new emissions tests.

The company said operating results for the group in 2018 rose 0.4 percent to 17.1 billion euros on sales that rose 2.7 percent to 235.8 billion euros. Net profit for the year rose 6 percent to 12.2 billion euros.

Trending:
CNN's Don Lemon Fails to Get Guest to Take 'Bait,' Instead Gets Contradicted on Slavery

CEO Herbert Diess said at the company’s annual news conference that the company met its profit goal with an operating margin of 7.3 percent.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →






We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




Conversation