VW is ramping up its electric vehicle target by 50 per cent

2020 Volkswagen Golf spy shots- Image via S. Baldauf  SB-Medien

MEB is a modular vehicle platform for electric cars developed by Volkswagen and its subsidiaries.

Volkswagen has ruled out compulsory layoffs until 2025, but early retirement will help the Wolfsburg, Germany-based carmaker to reduce its workforce between 5,000 and 7,000 positions, the carmaker said.

But with this transformation to electric vehicles, Volkswagen is also looking at cutting up to 7,000 jobs by 2023.

The automaker also revealed that operating profit at its core Volkswagen brand, one of 12, fell to 3.2 billion euros ($3.6 billion) from 3.3 billion a year ago as the company faced bottlenecks certifying vehicles under new emissions tests. By comparison, Volkswagen's target is significantly higher and more ambitious than GM's goal of building 1 million electric vehicles each year by 2026.

2020 Volkswagen Golf spy shots- Image via S. Baldauf  SB-Medien
New VW Golf Reveal Delayed Until Late 2019

A company spokesperson confirmed to The Drive that pricing and technical specifications for the I.D. will arrive at a pre-booking event May 8, which is also when rollout plans will be revealed.

The very big carmaker's electric transition is driven by the need to conform to strict emissions limits on greenhouse gas carbon dioxide (CO2), set to bite in the European Union from 2020. However, given VW's scale and finances, the company may be able to pull it off. This approach allows for lowered manufacturing costs since some components will be made through the same production lines.

After Zwickau, Volkswagen will roll out production of electric vehicles to seven other factories worldwide including two plants in China and a factory in Chattanooga, United States, VW said. As VW works toward the expensive dawn of the electric era, the company is struggling to push down costs and make the 12-brand behemoth more agile. In 2017, the VW Group announced a gradual transition from combustion engine to BEVs. VW will reportedly invest more than US$49 billion in the next few years to develop electric and connected vehicles. The group now is planning to build 70 new electric models over the next decade. This includes the recently unveiled Porsche Taycan and the Audi E-Tron.

LB Anthony Barr backs out on Jets deal, will stay with Vikings
In five seasons in Minnesota, he had 338 tackles, 13 1/2 sacks, one interception and four fumble recoveries. Minnesota drafted Barr with the No. 9 pick in 2014 out of UCLA .

Tyrann Mathieu to sign three-year, $42m deal with Kansas City Chiefs
After opening day of the NFL's legal tampering period, none of those things turned out to either matter enough or be true. The 26-year-old Mathieu was a third-round pick of Arizona in the 2013 draft after a standout career at LSU .

Tesla Plans Price Hikes To Keep Struggling Stores Open
Tesla is still sticking with its plan for all orders for its vehicles to take place online - even in its brick-and-mortar outlets. As a result, Tesla said it will need to raise prices on its costlier models by about 3% on average worldwide.

Related news:

Hot News

isis-killer-beheading-video-story-top Barcelona's Ousmane Dembele out for month with hamstring injury
Mar 15, 2019 - 00:43
Two weeks later, when the two sides met again in Turin, Cristiano Ronaldo scored a hattrick. Watch the Champions League quarter-final draw LIVE on Eurosport.co.uk on Friday at 11am.

isis-killer-beheading-video-story-top EU Reportedly to Crush UK With Billions in Brexit Delay Punishment
Mar 15, 2019 - 00:42
If her deal is defeated, May has said she will give lawmakers a vote on Wednesday on leaving without a deal on March 29. The spokesman said the government's motion that will be debated and voted on would be published later on Monday.

isis-killer-beheading-video-story-top Virgil van Dijk's Statistics From Bayern Munich Game Are Unbelievable
Mar 15, 2019 - 00:40
Maybe we were trying to play defensive and trying to score goals and maybe that was wrong and today Liverpool were better. That makes me really proud and happy because I think this club deserves recognition and awareness again.

isis-killer-beheading-video-story-top Ilhan Omar's Daughter Leading Climate Change School Walkouts in U.S.
Mar 15, 2019 - 00:29
Now three MPs from Norway have put her forward for the prestigious prize, which was founded by Swedish industrialist Alfred Nobel. One of the leaders the young girl mentioned in a message to digital video publisher Brut India was Prime Minister Narendra Modi.

isis-killer-beheading-video-story-top Brexit vote today: Britain's Parliament rejects Theresa May's Brexit deal
Mar 14, 2019 - 01:30
It was the largest defeat for a British government in Parliament in modern times. The Independent says it is time for a second referendum on Brexit .

isis-killer-beheading-video-story-top Will Odell Beckham Jr. get new contract with Browns?
Mar 14, 2019 - 01:29
The Giants have now held onto Manning two-years too many, and it looks like they are going to be doing it in 2019 as well. If Beckham were to have a new contract, there is a chance he won't get a much better deal than what he has at the moment.

isis-killer-beheading-video-story-top Here’s how much 5G service will cost from Verizon
Mar 14, 2019 - 01:25
The offer is available only on unlimited plans, which now start at $75 for one person or $160 for a family of four without 5G. The 5G Moto Mod will be available on preorder on March 14th, and Verizon is discounting it to just $50 for a limited time.

isis-killer-beheading-video-story-top Bouteflika pulls out of race for 5th term
Mar 14, 2019 - 01:19
"Our protests have borne fruit!" The US State Department said it supported Algeria's efforts to chart a new path forward. Bedoui will be assisted by a deputy prime minister, Ramtane Lamamra, whose office was created on Monday by decree.

isis-killer-beheading-video-story-top Court reinstates late Aaron Hernandez's murder conviction
Mar 14, 2019 - 01:16
Quinn III said, "The practice of wiping out a jury verdict like it never occurred is not fair or equitable". The prosecution then appealed, seeking to have the conviction reinstated .

isis-killer-beheading-video-story-top 'The Bachelorette': Hannah Brown Named Leading Lady of Season 15
Mar 14, 2019 - 01:09
Cassie meets Colton's family under odd circumstances. "It's led me here, it led me to her so, I'm so happy and so in love right now".

isis-killer-beheading-video-story-top California Gov. Gavin Newsom to Suspend Death Penalty, Defy Voters, Victims
Mar 14, 2019 - 01:03
In recent years, other states have abolished the death penalty and several other governors have placed moratoriums on executions. I commend Governor Newsom for his decisive action today to place a moratorium on the death penalty in California.

isis-killer-beheading-video-story-top Theresa May wins legally-binding changes to Irish backstop at eleventh hour
Mar 13, 2019 - 00:27
But the changes appear to fall well short of Brexiteers' demands for a unilateral British exit mechanism from the backstop. She survived a bid to oust her through a no-confidence vote in December, so can't be forced from office for a year.

isis-killer-beheading-video-story-top Wales survive fightback to defeat Scotland at Murrayfield
Mar 13, 2019 - 00:20
The more Wales tried to close out the game the more Scotland began to find gaps in the usually formidable Welsh defense.

isis-killer-beheading-video-story-top Pres. Trump budget calls for return to 'fiscal sanity'
Mar 13, 2019 - 00:11
The request includes a $500 million, 10-year childhood cancer initiative that Trump proposed in his State of the Union address. He also said Mexico would pay for it, though the Mexican government has repeatedly refused to finance the project.

isis-killer-beheading-video-story-top Buccaneers trade DeSean Jackson to the Eagles
Mar 12, 2019 - 01:15
The Tampa Bay Buccaneers have agreed to trade wide receiver DeSean Jackson to the Philadelphia Eagles , NFL Network reports . Jackson spent his first six seasons with the Eagles after being the 49th overall pick in the 2008 draft.