Volkswagen wants to sell 22 million EVs in 10 years

To do that, it also raised its sights when it came to electric models on offer.

“The Group is planning to launch almost 70 new electric models in the next ten years – instead of the 50 previously planned,” it said in its release, adding that the number of vehicles built using its electric platforms would increase from 15 million to 22 million.

“Expanding e-mobility is an important building block on the road to a CO2-neutral balance. Volkswagen has signed off a comprehensive decarbonization program aimed at achieving a fully CO2-neutral balance in all areas from fleet to production to administration by 2050. Volkswagen is thus fully committed to the Paris climate targets.”

CEO of Volkswagen AG, Dr. Herbert Diess said that the Paris agreement was the companies ‘yardstick’ in setting its own targets.

“We will be systematically aligning production and other stages in the value chain to CO2 neutrality in the coming years,” said Diess, who added that by doing so it was doing its part in tackling climate change.

The company said that with its new targets, it planned for electric vehicles to account for 40 percent of its fleet across all marques by 2040.

The Volkswagen Group includes Volkswagen, Porsche, Audi, Bentley, Bugatti, Seat, and Skoda, with the first electric vehicles in the new push to go on sale being the Audi e-tron and the Porsche Taycan - which combined, account for 20,000 units in reservations according to Volkswagen AG.