Can Volkswagen Dominate the Electric Car Market?

Can Volkswagen Dominate the Electric Car Market?

Why Did Volkswagen Stocks Gained Value?

Volkswagen Stocks- Volkswagen announced on Wednesday that it expects to deliver more than 450,000 electric vehicles (EVs) in 2021 (more than twice the 2020 total). Also added that it aims to take a big step towards its target of selling 3 million EVs a year by 2025. The automaker said deliveries of the new electric Crossover SUV VW ID.4 will begin in Europe this month, and soon in China and the US. The company's other electric vehicles and electric models from other brands within the Volkswagen Group will also be available in regional markets before the end of the year. Volkswagen executives talked about the company's initiatives for electric vehicles this week as part of the company's traditional annual report presentations.

On Monday, the company shared new details about six new "gigafactories" on battery development and manufacturing in Europe, and plans to invest in the expansion of fast charging networks in China and North America.

News this week has made Volkswagen's ambition to lead the world in electric vehicle sales by 2025, more concrete and more convincing than ever.

Therefore, Volkswagen stocks are on the rise this week. Electric vehicle investors who have long assumed that relatively new entrants to the market like Tesla will win the EV race are now beginning to rethink this assumption.   Source: https://www.fool.com/ You may also be interested in:

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