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Reported July 26, 2021 Ever since governments around the world mandated the adoption of electric vehicles, all eyes are on when producing electric vehicles will finally make economic sense
.
That milestone is still years away, but is approaching, according to Germany's Volkswagen
.
That milestone is still years away, but is approaching, according to Germany's Volkswagen
.
Volkswagen also revealed that the company's plans to switch to electric vehicles continued, with 170,939 fully electric vehicles delivered in the first half of the year
.
Diess also stressed that electric vehicles are seen as the "only way" to significantly reduce CO2 emissions from road traffic over the next 10 years
.
Bloomberg commented that Volkswagen is also currently incentivizing the board and executives for its "green" initiatives: Volkswagen has adopted a new management compensation system that "includes environmental, social and corporate governance (ESG) goals
.
Recall that back in March, Volkswagen was intent on becoming a key player in the electric vehicle space, eager to compete with the likes of Tesla
.
At the time, Volkswagen laid out plans to expand its EV supply by 2030, which included replacing Tesla as the EV world champion
.
Volkswagen is targeting an operating profit of 7% to 8% after 2021
.
Diess said on CNBC at the time: “This period is probably the most critical period for the entire industry
.
Diess said: “Electric vehicles today are very, very competitive and they will become more and more competitive over time
.
Volkswagen also revealed at the time that it was working on a "new battery of the same standard" to be launched in 2023
.
Diess said: “One size for almost all battery designs will radically reduce battery costs
.
Battery prices that are more than 50 percent cheaper than today mean that the selling price of EVs will drop further in the future, making EVs more affordable for electric vehicles.
Consumers are more attractive
.
”
