VW capable of building 50mln electric vehicles- CEO

FRANKFURT- Volkswagen's 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.

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.

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.