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VW targets EV lead by 2025 in platform push

Volkswagen automakers have made a name for themselves in the industry’s short term in the electric vehicles industry. Experts claim that it stands a chance to battle Tesla for the leading EV manufacturing company position despite the current gap. They currently deliver several electric vehicles at a friendly price compared to other carmakers and are targeting investing in new technology to promote the brand.

The Volkswagen Group aims to widen its cost-cutting efforts by using standard vital technologies. This German carmaker plans on accelerating a seismic shift towards electric vehicles in their plans to battle Tesla and keep the traditional manufacturers below them. It plans to make at least one million electric vehicles’ sales this yet and targets becoming the leading manufacturer of EVs in the next four years. Experts argue that shares of electric cars in Europe by the end of this decade are set to increase to about 60% of group deliveries.

In a statement from VW’s CEO, Herbert Diess, he talked about its plan to lead the EV market globally. Herbert stated that by pooling VW’s strengths, the development team would quickly scale up their future technologies. The company is overhauling its sprawling operations to have adequate funds to invest in new technologies to create the largest electric vehicle fleet in the market.

VW seems to be working day and night to combat Tesla and stand out among other traditional automakers from the recent reports. Recently, it unveiled Europe’s boldest move in the battery production industry and partnered with unions to cut more jobs in Germany. How will VW sell out its technologies and products? The company hopes to use a platform approach to raise efficiencies when releasing technologies such as batteries, software, and charging infrastructure.

Volkswagen is working on a plan to lower the fixed cost of electric vehicles by 5% equaling 2 billion euros and 7% of material expenses by 2023. In their recent interview, the VW carmaker explained that they expect their operating margin to increase by 5% to 6.5% this year. The company still keeps its dividend proposal the same even as experts braced for a cut. It replied that the management team expects a rise in vehicle deliveries to improve the revenue significantly.

VW’s effort to electrification slowed down last year after the covid-19 pandemic hit the globe, and with the health crisis, the management team was quick to stop most of their factories and showrooms. As European countries struggle with the rising infections and slow vaccination, the electric vehicles industry is suffering from inadequate semiconductors, which are slowing the production of electric vehicles.

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