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  "notes": "Part of a series of company-specific case studies regarding automotive electrification.",
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      "text": "Despite these ambitious plans and an incredibly detailed group strategy, Volkswagen is coming to electrification late and there is a substantial risk it will not achieve its own targets.",
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      "text": "Volkswagen's sole focus is now on electrification. It has plans for eight EV production sites (using the MEB platform) on three continents to be in operation by the end of 2022. It will invest around $44 billion over the next five years in its “electric offensive.”",
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      "text": "The ID.3 will be available from mid-2020 with an average range of 550km, and there are plans to launch 70 electrified models by 2027 across all its brands. The aim is to sell one million EVs a year globally by 2021, rising to three million in 2025. Despite these ambitious plans and an incredibly detailed group strategy, Volkswagen is coming to electrification late and there is a substantial risk it will not achieve its own targets.",
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      "text": "Volkswagen is the largest car manufacturer in the world. In Europe, it runs Volkswagen, Audi, Škoda, Seat, Porsche, Bugatti, Bentley and Lamborghini. Bentley and Lamborghini have specific EU targets, so we excluded them from our Volkswagen analysis.",
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      "text": "We forecast Volkswagen's CO2 emissions will drop from 121.1g/km to 109.3g in 2021, missing its 96.6g/km target and having to pay fines of €4.5 billion, the highest of any manufacturer. The market trend towards SUVs with bigger engines and higher CO2 emissions has been a problem for Volkswagen and we expect PHEV and BEV to make up around 10 per cent of its sales in Europe by 2021.",
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      "kind": "source-note",
      "text": "© PA Knowledge Ltd. | January 2020",
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