VolkswagenSeveral of the company’s battery-electric models including the Porsche Taycan are sold out by 2022. This high demand has helped its electric-car efforts become more profitable than its internal-combustion line.

Volkswagen worked over several years to develop an aggressive plan for electric vehicle transition. half of its global production by 2030. The plan will not be fully realized until around the middle of next decade but it is already showing results. Volkswagen was the leading sellerAbout 25% of the European market is made up of electric vehicles. It was the second-most popular in America. TeslaLast year, 7.5% of the market was represented.

Although Volkswagen is still a small player in China’s EV marketplace, it is growing rapidly. Last year, the group delivered nearly 93,000 EVs in China. VW anticipates this number to increase by fourfold in 2022.

At Tuesday’s company annual meeting, CFO Arno Anlitz said that he saw “better scale”, better margins and high customer demand. We originally thought that it would take two-three years before we saw the results. [profit]Parity of ICE- and Battery-electric Vehicles.”

A part of the “better size” comes courtesy rivals Ford Motor Company. Ford and VW have announced Monday that the new era of Ford-VW will be two electric Fords built on Volkswagen’s EV architectureThe pair will be produced for Europe, and production is expected to reach 1.2million vehicles in six years beginning in 2023. This is almost twice the number originally intended.

Volkswagen and Ford are both collaborating on electric vehiclesSelf-driving, and other high-ticket initiatives have been in existence since 2019.

In a separate updateVW revealed that it is on track for its next-generation EV platform to be released in 2026. It will launch with a new VW brand electric sedan, code-named Trinity.

A new factory will build the Trinity sedan in Wolfsburg. This new factory will employ advanced manufacturing methods, and it will be a model for the conversion of all VW plants to electric production.

The company announced its new website last week. ID. Buzz vehicleAn electric version the legendary hippie-era microbus.

VW plans to expand its worldwide charging network. The company stated that it currently has approximately 10,000 charging points for high-speed vehicles between Europe and China. By 2025, it will have 45,000. According to the company, 10,000 of these will be found in the U.S. and operated under the Electrify America name. created as part of VW’s Dieselgate settlement.

VW anticipates increasing its overall sales, which includes internal combustion vehicles, by between 5%-10% in 2022. The CEO Herbert Diess said that Russia’s invasion could alter this guidance. In response to disruptions in supply chains caused by war, he said that the company was moving production from Europe to North America or China.