When can I make money from electric cars? Volkswagen CEO: Next year

For the world’s major car companies, want to make a profit from electric ization is a long way off. GM has previously said it has no plans to make money from electric cars for the next decade. However, the public has a different view of this. In an interview recently, Volkswagen Group CEO Herbert Dees said VW could make money on electric cars by 2021,media reported.

When can I make money from electric cars? Volkswagen CEO: Next year

Vw will release a pure electric SUV in 2021, which will be built on MEB’s modular electronic architecture and the size of the Tiguan, and will be as profitable as the Golf, Mr. Dees said.

According to the Volkswagen Group’s plan, over the next decade, the group will launch more than 70 electric vehicleproducts, covering all of its brands, with a cumulative sales of 22 million electric vehicles, accounting for half of the total sales.

In order to achieve its “ambition”, VW plans to invest more than 33 billion euros (about 255.96 billion yuan) in electric vehicle manufacturing by 2023, including 15 billion euros ($117.6 billion) in China.

Mr Deiss is confident the investment will increase VW’s market capitalisation from about 75 billion euros ($542.948 billion) today to 200 billion euros ($154.862 billion).