Volkswagen today announced details of its “Way to Zero” plan, its strategy for decarbonizing the company and its products. The plan was presented at the company’s first Way to Zero Convention, where Volkswagen introduced a new interim target of a 40% reduction in CO2 emissions per vehicle in Europe by 2030.

Ralf Brandstätter, CEO of Volkswagen, said:

“Volkswagen stands for sustainable e-mobility for all. We’ve set out on the ‘Way To Zero’ and are consistently placing the environment at the focus of all our activities. Our big electric offensive was just the start. We’re taking a holistic approach to decarbonization: from production through service life to recycling. And we’re the first car maker to support the expansion of renewable energies on an industrial scale.”

Volkswagen has committed to be net carbon neutral by 2050 at the latest. The company outlined several initiatives it will pursue in order to achieve its sustainability goals, including supporting the construction of wind farms and solar plants on a large scale across Europe, in order to enable vehicles to be consistently charged with electricity generated from renewable sources. The company is also working to decarbonize both its production and supply chains, with plans to have all plants outside China operating entirely on green electricity, to make CO2 emissions a key criterion in awarding contracts to suppliers, and to implement battery recycling initiatives. Additionally, the company has committed to have at least 70% of its unit sales in Europe be all-electric vehicles by 2030, and aims to fully electrify its new vehicle fleet.

Brandstätter added:

“The ‘Way to Zero’ is our roadmap for effective climate protection, with clear and ambitious milestones. We live up to our responsibility for the environment. The ‘Way to Zero’ will provide us with a real competitive advantage. In the future, employees, customers and investors will give preference to those companies which place their social and environmental responsibility at the heart of their business. Sustainability will thus become a crucial factor in corporate success.”