Volkswagen AG (VOW.XE) said Tuesday that it plans to expand its range of electric cars in the coming years--in what it refers to as an "electrical offensive"--following the launch of its I.D. Crozz II sports utility vehicle.
The German car maker recently said that it will release electric versions of all of its models by 2030, and that it plans to release 80 new electric vehicles by 2025. Volkswagen estimates a total investment of 20 billion euros ($23.98 billion) in electric-vehicle production.
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In 2020, sales of purely electric Volkswagen models will reach 100,000, the company said.
"According to our forecasts, the annual sales of the I.D. models could tenfold to one million vehicles by 2025," said Herbert Diess, Volkswagen brand executive.
Write to Markus Klausen at firstname.lastname@example.org. Translated by Anthony Shevlin, email@example.com
(END) Dow Jones Newswires
September 12, 2017 07:52 ET (11:52 GMT)