Cupra, a Spanish brand owned by Volkswagen, said it planned to launch three electric vehicles by 2025, including the first all electric vehicle produced in Spain Volkswagen delivered 452000 all electric vehicles last year, and plans to achieve the goal that all electric vehicles will account for half of the global output by 2030. The company plans to invest 159billion euros (about 170billion dollars) in electrification in the next five years, far exceeding its competitors.
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Cupra has a close relationship with seat, another Spanish brand of Volkswagen, focusing on high profit sports cars. The company launched new models at an event outside Barcelona, bringing the total number of its models to seven.
"In the medium term, our goal is to deliver 500000 vehicles a year and promote our international expansion into new markets and new segments," said Wayne Griffiths, Cupra's CEO, in a statement
Since its establishment in 2018, Cupra has delivered about 200000 vehicles, with a turnover of about 2.2 billion euros in 2021.
