The Atlanta Journal-Constitution
Volkswagen raises forecast for electric car production
German automaker Volkswagen is accelerating its move into battery-powered cars, saying it will reach its goal of 1 million electric cars per year two years earlier than planned. Friday’s announcement came as European automakers are under pressure to meet
Accelerated timetable
Volkswagen said its core brand would turn out a million battery only cars by the end of 2023 instead of 2025, and would reach 1.5 million by the end of 2025. Those numbers are a stark contrast to this year’s production of more than 70,000 e-autos. Volkswagen is planning to raise production and sales numbers by introducing the ID.3, a battery model the company says will have the low price and longer range needed to transform such cars from a niche product to one with mass acceptance. The ID.3 base model will cost under $33,500 and travel 205 to 340 miles on a single charge.
European limits
European carmakers must meet tougher limits on fleet average emissions of carbon dioxide from 2021 or face heavy fines. Analysts and carmakers say the only way they can do that is by significantly increasing their sales of electrics. Automakers are also facing regulatory pressure from the Chinese government to increase the share of battery cars and hybrids, which combine a battery with an internal combustion engine.
Electric expansion for Tesla also gets a boost
Also Friday, Tesla Inc. secured a tax break in China just days before delivery of its first locally built cars, a major milestone as it pushes to expand in the world’s largest electric-vehicle market. The China-built Model 3 was included Friday on a list of vehicles qualifying for an exemption from a 10% purchase tax in the country. CEO Elon Musk is counting on China to help build on recent momentum for the company in the world’s largest market for EVs and autos in general.