For major car companies in the world, it is a long way to go to achieve profitability through electrification. GM had previously stated that it had no intention of making money from electric vehicles in the next ten years. However, the public views this differently.

Volkswagen Group CEO Herbert Diess said in an interview with the Financial Times that Volkswagen can rely on electric cars to make a profit in 2021.

Diess said that Volkswagen will release a pure electric SUV in 2021. The car will be based on the MEB electronic modular architecture and the size is similar to that of the Tiguan. The profitability of this car will reach the level of golf.

According to the plan of the Volkswagen Group, the Volkswagen Group will launch more than 70 electric vehicle products in the next ten years, covering all its brands, and the total sales of electric vehicles will reach 22 million, accounting for half of the total sales.

In order to realize its "ambition", Volkswagen plans to invest more than 33 billion euros (about 255.96 billion yuan) in the field of electric vehicle manufacturing in 2023, of which investment in China has reached 15 billion euros.

Diess believes that the above investment will increase the market value of Volkswagen Group from about 75 billion euros to 200 billion euros.