Written by CNN Staff • Updated 15th January 2018
Volkswagen , Europe’s largest automaker, is looking to beat Tesla with its electric vehicles. Its CEO, Herbert Diess, detailed plans to accelerate development of all-electric models in a plan that will be “implemented in Germany, Europe and in the world” by 2020.
He added that he was committed to develop several new models over the next two years, and didn’t rule out carmakers collaborating with other carmakers around the world to speed up the development of an electric future.
Volkswagen is still working on repairing its image after a diesel emissions cheating scandal in 2015.
Its largest shareholder is Qatar, which is expected to pump $10 billion into Volkswagen’s new “E-Mobility” plans.
In December, Volkswagen, the largest manufacturer of SUVs in the world, announced plans to boost production of popular SUVs like the Tiguan and Atlas, in addition to the redesigned Tiguan and Atlas, with the aim of producing 1.1 million SUVs a year by 2020.
But executives have long said that the emergence of electric vehicles will drive demand for new vehicles from an aging European population. Last year, Volkswagen announced plans to invest $400 million in a new plant in Tianjin, China , which will build electric vehicles for both domestic and international markets.