VW shares edge higher; CEO says it could build up to 50 million electric cars

VW shares edge higher; CEO says it could build up to 50 million electric cars
Written by:
Ilona Billington
13th November 2018

Volkswagen shares are a little higher Tuesday, as its CEO, Herbert Diess said the car manufacturer is ready to make 50 million electric vehicles. The comments were made in an interview with Automotive News, where he also said the company remains in talks with Ford, but nothing has been signed.

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By 1225 BST, VW shares were 0.21% higher at €146.14. The stock has been a little mixed in recent weeks trading.

VW’s electric car ambitions

Speaking to the auto industry publication, Diess said that VW has made provisions to build 50 million electric vehicles. That development comes at a time when VW sees appetite for electric cars, rising.

“There are huge changes ahead for Volkswagen, with the cars, with the EV market really picking up in the next years,” Diess said. “We have our first plant in Germany which only will produce electric cars. The platform is already booked for 50 million electric cars. We have sourced the batteries for 50 million electric cars, so this is a huge momentum coming.”

In addition to the German car maker’s electric vehicle plans, he also said in the interview that VW can see many synergies between itself and Ford. However, as yet, no firm agreement has been made, although talks are continuing.

Meanwhile, Diess added that while he considers VW to be “90%” over the diesel emissions scandal, some “legal issues” remain around the world, particularly in Europe, before it can move on from it completely.

Apple’s Siri gains more control over VW vehicles

Separately, it appears VW is developing closer ties with tech innovator, Apple. Through the VW Car-Net app, some iOS users are now able to lock and unlock their VW vehicle by telling Siri.

“We are constantly looking at innovative ways to make VW Car-Net more convenient and relevant for our customers,” said Abdallah Shanti, EVP, Global Chief Information Officer Volkswagen Brand & Car-IT.

“With Siri Shortcuts, creating voice commands to use with our mobile app was a great opportunity to do just that! Integration with Siri helps our drivers keep eyes on the road and hands on the wheel,” Shanti added.

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