VW capable of building 50 million electric vehicles: CEO in Automobilwoche

[November 12, 2018]  FRANKFURT (Reuters) - Volkswagen's <VOWG_p.DE> electric vehicle platform and battery procurement plans are being readied to handle production of 50 million vehicles, Chief Executive Herbert Diess told German trade publication Automobilwoche.

Herbert Diess, Volkswagen's new CEO, speaks during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018./File Photo/File Photo

The electric vehicle platform has been "booked" for 50 million cars, Diess said, adding that battery procurement had also been readied to handle this amount.

"We have bought batteries for 50 million vehicles," Automobilwoche on Monday quoted Diess as saying.

Volkswagen Group sold 10.7 million vehicles in 2017.

A VW spokesman said the number mentioned by Diess amounted to a theoretical long-term goal for the carmaker's MEB electric car platform.

The Volkswagen Group's current vehicle platform, named MQB, has spawned sales of 50 million mainly combustion engined vehicles over multiple brands and multiple years of sales, he said.

Volkswagen has earmarked 50 billion euros ($56 billion) for battery procurement, he reiterated.

($1 = 0.8873 euros)

(Reporting by Edward Taylor; editing by Thomas Seythal and Maria Sheahan)

[© 2018 Thomson Reuters. All rights reserved.]

Copyright 2018 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.