BusinessVolkswagen will produce only electric cars in Europe from...

Volkswagen will produce only electric cars in Europe from 2033

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The Volkswagen brand will produce only electric cars in Europe starting in 2033, CEO Thomas Schaefer said on Wednesday, pledging to meet the date set in his previous goal for the period 2033-2035, Reuters reports.

Schaefer said that over the next decade the VW brand will reduce the number of models offered to focus on core models, with the aim of increasing the profit margin for all volume brands – Volkswagen, SEAT, Skoda and commercial vehicles – to 8 % by 2025.

“Do less, but do better,” Schaefer said, speaking at an event in Berlin.

Bringing vehicles from different brands into the same plant will result in savings, Schaefer said, adding, “We have a lot of waste in the system that we can eliminate.”

The VW brand will also shift its focus from a single model per plant to “platform thinking,” Schaefer said, using the same basic design for different models to allow for economies of scale.

The automaker aims for an entry-level electric vehicle at a price of 25,000 euros or less.

Schaefer said that improving and standardizing battery chemistry and format was key to achieving this goal, as well as to scale production.

“The only company that can expand into this territory right now is us. The accent is a clear standard for all brands and on a large scale,” said the CEO.

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