VW to become 1st global automaker to make
profits from e-car
VW (Volkswagen) will become the first global automaker to make profits (money) from selling battery-only electric vehicles (BEVs).
According to a report from a Swiss investment bank, UBS Volkswagen will be the first global automaker to make money selling electric vehicles from 2022.
The sales of electric cars and SUVs will speed up to more than 15 per cent of the global market by 2025 and Tesla’s position as the world’s most desired EV will compete with the German competition said UBS.
VW to spend $36 billion on family electric cars
The company is planning to spend $36 billion through 2024 on a family of electric cars. But what UBS is expecting is 15.6% to be precise that still, it is less of Volkswagen’s sales expectations. The company expects that at least 25% of its global sales will be BEVs.
The USB also predicts that VW’s sales will be much stronger than the other electric cars. The Morgan Stanley expects BEV sales to increase 2% globally last year tp only 11% by 2025.
The IHS Markit ( London based global information provider) forecasted a BEV market share of 14% in Europe for 2025, much lower total for global sales.
The UBS report also says that the plug-in hybrid electric vehicles (PHEVs) will account for 1.4% globally 2025. The PHEVs offers only 30 miles of electric-only range before they switch to gasoline or diesel power.
e-Golf pilot project
Recently, Volkswagen announced that it has started its journey in electric mobility in South Africa by launching the e-Golf pilot project.
The e-Golf pilot project has six fully electric vehicles and is tested by motoring and lifestyle media. Dealers and company employees making efforts to get valuable consumer insights by experiencing driving and living with an EV in South Africa.
Related: Volkswagen unveils concept EV ID. CROZZ for the Indian market
Hope these UBS predictions will make its way to reality so that the world be an eco-friendly place to live in.
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