Volkswagen is able to manufacture 50M electric vehicles, according to the CEO

Volkswagen is preparing to produce 50 million electric vehicles, Chief Executive Herbert Diess told German automaker Automobilwoche.

The platform for electric vehicles contemplates the assembly of 50 million cars, said Diess, adding that the purchase of batteries was also prepared to handle that amount.

“We have bought batteries for 50 million vehicles,” said Diess, quoted Monday by Automobilwoche.

Volkswagen Group sold 10.7 million vehicles in 2017.

Last week a source told Reuters that Volkswagen will launch an electric vehicle to compete with Tesla that will cost less than 20,000 euros (US $ 22,836) and convert three of its factories into electric car production plants as part of a broad restructuring.

The plans will be discussed at a supervisory board meeting on November 16, when the automaker based in Wolfsburg, Germany, would also discuss far-reaching alliances with battery-cell producer SK Innovation and rival Ford.

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