Volkswagen aims to sell 100,000 electric cars globally by 2018

The German automobile giant, Volkswagen is known for trend setting innovations and technologies. This automobile company is evolving continuously to meet changing preference of customers. In its bid to ensure that carbon emissions in the future are reduced, the automobile major is planning and strategizing to make sure its production of electric cars starts off in a big way by 2014. If everything goes as planned, the production of electric cars will begin in full sway by 2014 in China under FAW Volkswagen and Shanghai Volkswagen, both joint ventures of Volkswagen in China. Volkswagen wants to make sure that production of electric vehicles reaches 100,000 units globally by 2018. The electric vehicle sector is growing globally and majority of the demand for EV’s is expected to come from China in the future, with Beijing, Shanghai, Shenzhen and Hangzhou leading the way. Already Volkswagen holds a healthy 16% share in the electric vehicle market in China, and with big plans to start full scale mass production in the future, industry experts are of the opinion that Volkswagen will be hard to compete against in the EV segment. Talking more about their plans, Mr Karl-Thomas Neumann, Chief Executive and President, Volkswagen China, said, “E-vehicles have so far been limited by cost batteries, and a lack of economies of scale and models considered appealing to car buyers and they were needed to reduce China’s pollution and reliance on oil.”