FX.co ★ Volkswagen expects 70% of sales to be electric vehicles

According to the data provided by The Wall Street Journal, German car maker Volkswagen said that more than 70% of “the brand’s European sales will be EVs by 2030”.

The previous aim was to increase sales of electric vehicles by 35%. At the same time, in China and the US, sales of EVs are expected to advance by 50% by 2030.

In the near future, VW intends to expand the fleet of vehicles with internal combustion engines. Ralf Brandstaetter, who leads the Volkswagen brand, said that the company needed an internal combustion engine with the highest efficiency.

At the moment, securities of VW are gaining in value. During the last three months, the market capitalization of the company skyrocketed by 35%, exceeding €102 billion.