The Volkswagen brand will produce only electric cars in Europe from 2033 on, moving up its an earlier 2033-2035 target, reports the Reuters online news service.
Volkswagen COO Thomas Schaefer said in the next ten years, the automaker’s brand will narrow its model lineup. Additionally, the company will raise the profit margin for volume brands – Volkswagen, SEAT and Skoda, and commercial vehicles – to 8% by 2025, according to Reuters.
The automaker current EV lineup includes the ID family – encompassing a hatchback and crossover SUVs – and the ID Buzz van, with four additional models in production in 2023.
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