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Volkswagen to build 800,000 fully-electric cars this year
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BERLIN (Reuters) – Volkswagen is planning to build 800,000 fully electric cars worldwide this year and 1.3 million in 2023, the carmaker said on Thursday, as it works towards making half its global output all-electric by 2030.
BERLIN (Reuters) – Volkswagen is planning to build 800,000 fully electric cars worldwide this year and 1.3 million in 2023, the carmaker said on Thursday, as it works towards making half its global output all-electric by 2030.
It is optimistic that it will reach European emissions targets this year despite challenging circumstances for car production, its sales chief Hildegard Wortmann said, with electric car sales rising even as total deliveries fall.
Speaking during the carmaker’s annual general meeting, chief executive Herbert Diess said he thought the timing was ideal for an initial public offering (IPO) of sports carmaker Porsche, which is planned for the fourth quarter of this year.
(Reporting by Victoria Waldersee; Editing by Maria Sheahan)
An electric car is a vehicle that is powered entirely or partially by electricity, using electric motors instead of internal combustion engines. They are considered more environmentally friendly due to lower emissions.
An initial public offering (IPO) is the process through which a private company offers shares to the public for the first time. This allows the company to raise capital from public investors.
European emissions targets are regulatory limits set by the European Union to reduce greenhouse gas emissions. These targets aim to combat climate change and promote sustainable practices among businesses.
Market capitalisation is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the share price by the total number of shares, indicating the company's size.
A sales chief is an executive responsible for overseeing a company's sales operations and strategies. They play a key role in driving revenue and managing sales teams.
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