Volkswagen wants to make more electric cars and cheap models in the coming years

The German car manufacturer Volkswagen wants to release significantly more electric cars in the coming years than originally planned. In addition, the company states that there is also a relatively cheap model of about 20,000 euros.

Christian Senger, the boss of Volkswagen’s electric car unit, said at an event in Dresden that his company is expected to produce 15 million electric cars in the coming years, Bloomberg writes. According to Senger, that is an increase of fifty percent compared to a previous target. This is the first wave of electric cars that the German company will release.

The Volkswagen brand will invest approximately 9 billion euros to bring a total of twenty different electric models on the market by 2025. According to Senger, there is also a model that will cost about twenty thousand euros. Michael Jost, the chief strategist at Volkswagen, previously said that in 2023 or 2024 an electric car the size of the T-Roc should come out for less than 20,000 euros.

A week and a half ago, another CEO of the manufacturer announced that a total of 44 billion euros will be invested in electric cars, autonomous driving technology and mobility services until 2024. However, double the amount will still go to existing drive technology. The necessary money also goes to new factories or the conversion of existing ones. This is being done so that electric cars will be made in eight different places by 2022.