Volkswagen is stepping up its shift to electric cars and plans to invest more than $24 billion in zero-emission vehicles by 2030 to challenge pioneer Tesla in creating a mass market, according to CNBC.
The world's largest automaker by sales said on Monday it would roll out 80 new electric cars across its multi-brand group by 2025, up from a previous goal of 30, and wanted to offer an electric version of each of its 300 group models by 2030.
"A company like Volkswagen must lead, not follow," Chief Executive Matthias Mueller told reporters on the eve of the Frankfurt auto show as he unveiled the group's "roadmap E".
Dr. Herbert Diess, who heads the VW brand globally, said at the automaker's Chattanooga plant a few weeks ago that he expects the electric vehicle platform on which the company's new battery-powered lineup will sit will come to the U.S., though he didn't have a time table on that production.
"We wouldn't need a new plant. This plant still has a lot of capacity," he said.