By David Sachs

Volkswagen AG said Tuesday that battery-electric vehicles comprised a slightly larger portion of all deliveries compared with a year ago, as the car maker continues to inch away from internal combustion engines.

The German auto maker said the share of BEV sales fulfilled rose to 7% in 2022 from 5% in 2021. The company said BEV deliveries grew 26% to 572,100 units last year, while overall deliveries fell 7% to 8.3 million vehicles.

Volkswagen will continue to invest in gas-powered vehicles, but said it expects expenditures in "the last generation of combustion engines" to ebb after 2025. It said electrification and digitalization will account for more than two-thirds of planned investments of 180 billion euros ($193.20 billion) in its most attractive regions between 2023 and 2027.

The BEV share figures come a day after the auto maker outlined plans for a battery plant in Canada, its first outside of Europe.

Volkswagen previously said it aims for BEVs to comprise 50% of all sales worldwide by 2030, and 70% of all sales in Europe.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

March 14, 2023 08:10 ET (12:10 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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