Volkswagen is aiming to more than double its share of battery-electric vehicle sales in Europe by 2030. The lofty goal comes amid a new plan called Accelerate takes hold within the German automaker. Accelerate features several stretch goals for the automaker when it comes to EV penetration.
The centerpiece of the Accelerate plan is a new goal to claim 70-percent of all EV sales in Europe by 2030. This goal is increasing from an already high number of 35-percent the company previously announced.
Volkswagen says it will roll out at least one new battery-electric model each year. This year alone VW is launching the ID.4 GTX crossover and the ID.5. An ID.6 and larger seven-seat SUV are slated for the Chinese market.
“With Accelerate we are increasing the speed on our path to a digital future,” said Ralf Brandstaetter, who heads the Volkswagen brand and also sits on the group’s management board.
The Accelerate plan also calls for Volkswagen to grab 50-percent of the EV market in both China and the U.S. by by 2030. This means the company will successfully achieve more market share than Tesla and other major automakers in the U.S. Meanwhile, in China there’s a whole host of EV makers that do not compete in the U.S.
To put this goal into perspective, Volkswagen has less than five-percent market share in the U.S. today. VW previously announced it aimed to achieve five-percent market share in the U.S. by 2028. Depending on the mix of EV sales in the U.S. between now and 2030, these goals may not align.
Despite these very bold EV goals, Volkswagen isn’t done with internal combustion engines just yet. Volkswagen is planning one more generation of the Golf, Tiguan, Passat, Tayron and T-ROC. However, each one will be a plug-in hybrid model. Beyond these models, everything else from Volkswagen will be electrified.