German automaker Volkswagen is planning to build 10 million electric cars, based on its new modular electrification kit (MEB) platform, as it targets the launch of worldwide mass production towards the end of 2022.
Volkswagen plans to invest 6 billion euros ($7 billion) in e-car production, of which 1.3 billion will be invested in its German plants at Braunschweig, Salzgitter and Kassel.
Volkswagen will build 27 models for four group brands based on the MEB starting with the company's identification model that will begin rolling off the production line at its plant in Zwickau, Germany, late next year.
The company expects a target of selling 3 million units per year by 2025 of the 50 battery-powered group models it plans.