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%.
Previously the company said it would aim for 15-million. That's ambitious considering it made fewer than 50 00 battery-only vehicles last year.
The company is pivoting to electric vehicles as it seeks to comply with new limits on carbon dioxide emissions in Europe, and a push by China for more low-emission vehicles.
The company also disclosed Tuesday that operating profit at its core Volkswagen brand, one of 12, fell to €3.2-billion from €3.3 billion last year as the company faced bottlenecks certifying vehicles under new emissions tests.