Wolfsburg - Volkswagen may have to step up its plans for mass production of electric vehicles in order to meet tougher-than-expected European targets to cut greenhouse emissions from cars, its chief executive said recently.
The remarks came after the European Union agreed to cut CO2 emissions from cars by 37.5 percent by 2030, and follow warnings from Germany, home to the bloc's biggest motor industry, that tough targets could cost jobs and harm the sector.
This is more than the 30 percent Volkswagen, still reeling from an emissions cheating scandal, expected and would translate into a share for electric vehicles of more than 40 percent of its expected total vehicle sales in 2030, CEO Herbert Diess said.
"This means that our planned restructuring programme, which is needed to address this systemic change, is not yet sufficient."
German Economy Minister Peter Altmaier said the targets were at the limit of what was technically and economically feasible. Around 436 000 industrial jobs in Germany are tied to building petrol and diesel engined vehicles.