The Volkswagen brand will only produce electric cars in Europe from 2033, its boss Thomas Schaefer said on Wednesday, committing to an earlier date than its previous 2033-2035 target.
His comments echo other senior management figures at the German carmaker who have also laid out plans to streamline production and improve productivity as it battles to dominate the electric vehicle market. The passenger cars brand saw a 5.6% operative margin in the first half of the year, up from 3.4% in the same period in 2022.
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