Volkswagen AG (Pink: VWAGY), one of the legacy automakers with the best chance of converting to electric vehicles, launched a “New Auto” plan on Tuesday that will last until 2030.
Volkswagen Is Trying To Take The Lead In Electric Vehicles: Volkswagen announced ambitions to convert into a software-driven mobility firm, saying it has set a strategic goal to become the global leader in electric vehicles and is on course to achieve it.
“The shift to far safer, smarter, and eventually autonomous cars, based on software, is the next much more drastic change. For us, this means that technology, speed, and scalability will be more important than they are now. Automobiles have a bright future! “Herbert Diess, the company’s CEO, stated.
In accordance with the Paris Agreement, the company aims to reduce its carbon footprint per automobile by 30% over its lifecycle compared to 2018.
By 2030, battery electric vehicles are expected to account for half of all new vehicle sales, and by 2040, Volkswagen hopes to have all new Group vehicles electrified in important markets. The company plans to be completely carbon neutral by 2050.
Volkswagen increased its operational return on sales forecast for 2025 from 7% to 9%, up from the initial range of 7% to 8%.
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VW Focuses on Battery Technology and Charging Infrastructure: Volkswagen has stated that it intends to form new alliances in order to develop a controlled battery supply chain.
By 2030, the business expects to create a single unified battery cell structure with up to a 50% cost reduction and up to 80% use cases. By 2030, six giga plants in Europe with a total production capacity of 240 GWh would aid in securing battery supply, according to the business.
Volkswagen’s Autonomous Driving Strategy: Volkswagen is working on a self-driving system with its key partner ARGO AI that will allow it to offer completely new mobility and autonomous transportation services.
The corporation hopes to gain a considerable market share and generate more money through this channel.
VW Will Concentrate on China, Europe, and North America: China, according to Volkswagen, will be critical to the success of the company’s “New Auto” strategy.
Volkswagen also announced that it will deliver a wide selection of highly appealing BEVs to the US market, including the popular ID.4 and the impending iconic ID. BUZZ1.
Volkswagen’s stock was down 1.88 percent to $33.75 at the time of writing.
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Herbert Diess, CEO of Volkswagen. Photo courtesy of the author.
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