Volkswagen aims to more than double deliveries of electric vehicles to 1 million this year, according to Reuters. The carmaker is also offering early or partial retirement to older employees, a move that would cut 4,000 jobs at its plants in Germany to reduce costs.
Volkswagen will apply a standardized platform model introduced for vehicle production years ago to software, batteries, and charging.
Volkswagen CEO Herbert Diess expects good performance in 2020 to give the momentum for accelerating its transformation.
Diess’s comments come a day after Volkswagen unveiled plans to build half a dozen battery cell plants in Europe and expand EV charging infrastructure globally.
The world’s second-largest carmaker aims for an operating margin of 7%-8% by 2025 and expects to end 2021 at the upper end of a 5%-6.5% target.
Volkswagen stock has risen as much as 5% to their highest ever since July 16, 2015, given the carmaker’s valuation of more than $138 billion and is up more than a third year-to-date.Volkswagen stock is currently gaining. VOW3 is up 6.09%
