Today’s Solutions: May 19, 2024

With giant automakers like Jaguar, Volvo, and General Motors announcing plans to electrify their products over the next two decades, there’s little doubt left that the electric revolution is well underway. Now, major car manufacturer Volkswagen (VW) is joining the sustainable transportation movement.

The German automaker has unveiled its plans to accelerate its shift towards all-electric vehicles in a bid to become “the world’s most desirable brands for sustainable mobility.” Last week, the company announced that more than 70 percent of its Volkswagen brand’s European sales will be EV by 2030 — that’s two times higher than its previous target of 35 percent. In the US and China, the brand expects half of its sales to be electric by the end of the decade.

“We are stepping up the pace,” said Ralf Brandstaetter, who leads the Volkswagen brand. “In the coming years, we will change Volkswagen as never before.” The company also owns Audi, Lamborghini, Porsche, and several other luxury brands, but its recent announcement applies only to VW-branded vehicles.

To reach its goals, the brand said it will invest about $19 billion in future trends such as “e-mobility, hybridization and digitalization” by 2025. Making autonomous driving widely available by 2030 and will also be among its technological pursuits.

This growing initiative from giant automakers to ditch gas-powered motors in favor of clean, zero-emission vehicles is a reassuring trend for an industry that urgently needs to rethink its practices and do its part in the fight against climate change.

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