VW vows to build 22-million electric cars over next decade

Volkswagen vows to build 22 million e-cars over next decade

The German auto giant said between 5,000 and 7,000 jobs in its core VW brand will be replaced by automation.

A technician works on a Volkswagen Tiguan with TDI diesel engine during its final assembly at the Wolfsburg Volkswagen plant.

German automaker Volkswagen is saying it plans to ramp up its production of electric vehicles over the next ten years to 22-million and reduce its carbon footprint over vehicle life cycles by 30%.

The carmaker's Audi and Porsche brands made up the lion's share of VW Group's operating profit.

At the VW brand, executives aim to lift their profit margin to 6.0 percent by 2022, compared with 3.8 percent previous year.

Arno Antlitz, Volkswagen's chief financial officer, said that the measures are expected boost profits by 6 percent by 2022.

More news: Donald Trump tried to 'get rid' of Ivanka from the White House

The new cost cutting drive is a continuation of Volkswagen's 3 billion euros Zukunftspakt savings plan.

It said that, at the same time, it will create some 2,000 new jobs in technical development.

VW says the move will help ensure profitability as the company transitions to the electric and autonomous vehicle era.

The 5.9 billion euro target for 2023 comes on top of the 2020 target, the company said.

"Given the interest in the I.D. family shown by our dealers, I think it is possible that the launch edition will already have sold out before we unveil the I.D.in September", stated Jürgen Stackmann, Volkswagen's board representative for sales, in the conference.

Volkswagen states that first adopters of the I.D. will receive special, launch-edition cars, but has not specified how these will stand out from subsequent models.

Related News:

  • Victims killed, injured during school shooting in Brazil

    Despite Brazil being one of the world's most violent countries, school shootings are rare. "The school is on lockdown", he said. Police said that two adolescents wearing face masks entered the building and started shooting at about 9:30 a.m. local time.
    Google Allo Says

    Google Allo Says "Goodbye" Today

    Allo, Google's iMessage competitor is being shut down , and users will no longer be able to export older messages from the app. Google has officially shuttered the service, saying on the Allo website that the service is "signing off".
    US Envoy Says ''Real Strides'' Made In Longest Taliban Talks

    US Envoy Says ''Real Strides'' Made In Longest Taliban Talks

    He said however a responsible withdrawal of troops would be in better interest of Pakistan as well as the regional countries. The German foreign minister said that terrorism was a global challenge and Pakistan had taken a lot of steps in that regard.
  • GOP plan would limit power to declare emergency

    GOP plan would limit power to declare emergency

    Still, Congress would be highly unlikely to muster the two-thirds majorities needed to eventually override a veto. Lee's proposal says a presidential emergency would last 30 days unless Congress votes to extend it.
    Redmi Note 7 Pro goes on sale in India

    Redmi Note 7 Pro goes on sale in India

    Xiaomi Redmi Note 7 is priced at Rs 9,999 for the model with 3GB RAM and 32GB storage and Rs 11,999 with 4GB RAM and 64GB storage. Xiaomi's highly anticipated Redmi Note 7 series comprising of the Redmi Note 7 and the Note 7 Pro was launched last week.
    Schiff: It's A 'Mistake' If Mueller Concludes Probe Without Interviewing Trump

    Schiff: It's A 'Mistake' If Mueller Concludes Probe Without Interviewing Trump

    There is evidence that some people in Trump's orbit were discussing a possible email dump from WikiLeaks before it occurred. Trump also plays a central role in a separate case in NY , where prosecutors have implicated him in a crime.
  • College admissions cheating scheme: 3 freaky  details from the complaint

    College admissions cheating scheme: 3 freaky details from the complaint

    Representatives for the companies and Huffman and Loughlin either declined to comment or did not respond to requests for comment. Stanford fired the sailing coach, and USC dropped its water polo coach and an athletic administrator.

    Italy bans unvaccinated children from attending school

    Under a new law, children under six will be legally turned away from preschool, which is known as "Asilo" in Italy. Children have been reportedly told to not turn up to school unless they can prove they have been vaccinated .
    New ‘Orphan Black’ Series in Development at AMC

    New ‘Orphan Black’ Series in Development at AMC

    After the much-lovedOrphan Black ended in 2017, there was a large clone-thriller-sized hole left in genre fans' hearts. A new series set in the Orphan Black universe is now in development at AMC , Variety has confirmed.
  • The Web Is 30. Here's What Its Inventor Thinks

    The Web Is 30. Here's What Its Inventor Thinks

    But despite the opportunities the World Wide Web has provided, there is growing concern about how it is being misused. But Berners-Lee is optimistic about the future of the web, which he sees as constantly evolving.
    California governor to impose moratorium on executions

    California governor to impose moratorium on executions

    Gavin Newsom called him "one of the smartest people I've ever met", which the Democrat denied during a CNN interview last night. Newsom has recognized the cruelty, the moral and fiscal costs, and the discriminatory nature of death sentencing in the state.
    Key student striker rejects Leo's support until urgent climate action taken

    Key student striker rejects Leo's support until urgent climate action taken

    Jacqueline Kohler, a chemistry teacher at BHS believes that addressing climate change is crucial in the social landscape today. The world's children are reminding us that we have a big debt to repay and an earth to fix and restore.

Most liked

Dick's Sporting Goods to stop selling hunting rifles, ammunition at 125 stores
The report met Wall Street expectations of $1.07 earnings per share, according to analysts surveyed by Zacks Investment Research. Dick's Sporting Goods said Tuesday that it will stop selling hunting rifles and ammunition at 125 of its stores.

Apple Expected to Reveal Its Streaming Video Service on March 25
Apple did not specify the event's focus in its invitation and gave a single - line description: "It's time to show". Apple is in talks with HBO, Showtime, and Starz, and all three are expected to join Apple's service eventually.

New app helps locate "Trump-friendly" businesses
But for 63red Safe to be a resource for conservatives during the election, it has to make it past the primary process. The Daily Beats reports that eatery, The Red Hen in Lexington is listed as unsafe on the app.

Ravens to sign Earl Thomas, Mark Ingram
After returning from a four-game suspension to open the season, Ingram shared the running-back work with Alvin Kamara . The former Saints starter and Heisman Trophy victor , who can not officially sign until 4 p.m.

Drake Drops Michael Jackson Collaboration from Tour Setlist
Still, she doesn't know yet if she'll be dumping her Michael Jackson CDs and memories of the late star. Jackson went credited under the pseudonym John Jay Smith when the episode originally aired.

Priyanka Chopra gets a Maybach from ‘best husband ever’ Nick Jonas
Recently, the track made became a number 1 song on the Hot 100 on Billboard which is an achievement for them as it's their first. Thank you to every single person who downloaded, streamed and listened to #sucker on the radio.

Galaxy S10 face unlock tricked by a video of the phone's owner
I hope you have a drink and snack ready, because our Samsung Galaxy S10 tips and tricks video is here and it's insanely long. Android Pie has come to Galaxy Note 9 units around the world, but Verizon subscribers have had to wait a little while.

LAPD ID girl found in duffel bag wearing 'Future Princess Hero' shirt
Earlier this week, family members and friends visited Trinity's large memorial near the Hacienda Heights trail for the first time. Investigators found Hunt Saturday morning sleeping in his auto in a parking lot near San Diego International Airport.

'Bohemian Rhapsody' Sequel Is Being 'Heavily Discussed'
Last month, the film added four Academy Awards - including " Best Actor " for its star Rami Malek - to its growing pile of awards. The Mercury role was once going to be played by Sacha Baron Cohen.

Scientists are one step closer to reviving woolly mammoths
Scientists have detected biological activity in a woolly mammoth's cells. They also found possible signs of fix to damaged mammoth DNA .

British MPs set to vote on no-deal Brexit
What isn't clear is how the prime minister actually intends to dig herself out of this terrible political hole. Mrs May announced that she will grant Conservative MPs a free vote on the motion tomorrow.

49ers trade for Chiefs edge rusher Dee Ford
Kansas City is changing defensive schemes under new coordinator Steve Spagnuolo and re-working its defensive front. However, with Ford's ability to rush the passer, adding that kind of talent is clearly the priority for the 49ers.

United Kingdom must maintain threat of no-deal Brexit - DUP's Dodds
And Lib Dem Layla Moran, a backer of the pro-EU Best for Britain group, told The Sun: "The Prime Minister has failed the country". May said new documents to be added to the deal provided "legally binding changes" to the part relating to the Irish border.

Israeli authorities to reopen Al-Aqsa Mosque compound
Amid rising tensions on the holy site, police say arrests were carried out and the Mount was closed to allow for searches . Palestinian President Mahmoud Abbas denounced the "dangerous Israeli escalation" and warned of "serious repercussions".

Australia's Smith and Warner will return stronger from bans - Warne
He also said Warner will be the best player at the World Cup. "The CoA, in consultation with BCCI acting president Mr. Both needed to undergo surgeries with Smith's being the more severe injury.