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Volkswagen vows to build 22 million e-cars over next decade

AP  |  Frankfurt 

German automaker is saying it plans to ramp up its production of electric vehicles over the next ten years to 22 million and reduce its over vehicle life cycles by 30 percent.

Previously the company said it would aim for 15 million. That's ambitious considering it made fewer than 50,000 battery-only vehicles last year.

The company is pivoting to electric vehicles as it seeks to comply with new limits on carbon dioxide emissions in Europe, and a push by for more low-emission vehicles.

The company also disclosed Tuesday that operating profit at its core brand, one of 12, fell to 3.2 billion euros ($3.6 billion) from 3.3 billion last year as the company faced bottlenecks certifying vehicles under new emissions tests.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 12 2019. 14:05 IST