Volkswagen has announced plans to produce one million electric vehicles (EVs) by 2023, two years earlier than previously planned.
The car manufacturer seeks to continue to accelerate the production of EVs worldwide, and expects to hit the 1.5m milestone by 2025.
It is investing €33 billion (£25bn) over the next four years, including €11 billion (£8.4bn) in the Volkswagen brand.
The company is set to launch eight new electric or hybrid car models across all of its brands this year, including its new flagship ID.3 EV, which will go on sale in the summer
The ID.3 EV is expected to have a range of between 203 to 340 miles on a single charge, depending on the model.
Thomas Ulbrich, Member of the Volkswagen brand Board of Management responsible for E-Mobility said: “Our new overall plan for 1.5 million electric cars in 2025 shows that people want climate-friendly individual mobility – and we are making it affordable for millions of people.”
With its newly-established subsidiary Elli, the car manufacturer is forging ahead with the development of charging infrastructure for EVs.
By 2025, a total of 36,000 charging stations are to be developed throughout Europe at dealerships and plants.
VW has also laid foundations for the development, testing and production of battery cells, with a 16GWh capacity factory being developed from 2020 – it has entered into a joint venture with Swedish firm Northvolt.