VW announces 1 million EV production target: two years ahead of schedule

Volkswagen is speeding up its electric car program, with its current goal of reducing the time it takes to meet its previous production target of 1 m. 1 million electric vehicles to two years,media reported. The German carmaker had previously planned to reach the milestone by 2025.

VW announces 1 million EV production target: two years ahead of schedule

VW now expressed confidence that it would achieve that goal by 2023. By the end of 2025, the company is expected to meet its production target of 1.5 million electric cars, and models such as the ID3 launched by Volkswagen will help drive that growth.

VW announces 1 million EV production target: two years ahead of schedule

The 2020 ID3, released in early September, is the first MEB platform model in the Volkswagen Group’s electric vehicles. This is a modular architecture developed by Volkswagen for its various brands and will be flexible for front drive, rear drive or full drive type. In the case of ID 3, it is a hatchback about the size of a Golf, but the MEB platform it uses will also be used in SUVs, luxury cars and other models.

To do this, VW needs to invest heavily and deploy new production facilities. The GROUP plans to invest more than $36 billion in the electric car segment by 2024, a third of which will be used for the VW brand.

Of course, ID.3 isn’t VW’s first electric car, even though it may be the first to adopt a new architecture, having previously had all-electric models such as e-Golf and the Passat Hybrid. While not all models are sold in every market, that hasn’t stopped VW from taking a quarter of the way toward the next major milestone.

Volkswagen said its 250,000th electric car was delivered in Germany in mid-December. The process took VW six years, starting with the 2013 VW e-up! About half of the 250,000 cars chose a pureelectric BEV, while the rest opted for a plug-in hybrid.

It is clear that the carmaker expects demand for electric vehicles to grow rapidly in the coming years, a reasonable assumption even before ID.3’s release. VW said deliveries of electric vehicles under the VW brand were 70,000 so far in 2019, up from 50,000 in 2018.

In addition, the public has ambitious plans for MEB. After ID.3, then the mass production version of the ID. CROZZ concept car, which is an all-electric crossover. It will be the first electric car in the ID family to enter the U.S. market after Volkswagen decided to temporarily abandon the ID.3 hatchback. CROZZ production is expected to begin in 2020.

However, not every MEB-based car will have a VW badge – or the nameplate of Siatta, Audi, Porsche or other Volkswagen Group. The carmaker is also licensing the platform to other companies, and Ford was one of the first to agree to use it in its cars. It is reported that in 2023, a Ford-based MEB-based car is expected to be the first in the European market. Earlier this week it was reported that the car was likely a scaled-down version of the Mustang Mach-E electric crossover.

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