Cupra, Volkswagen’s Spanish subsidiary, will launch three electric vehicle models by 2025. Meanwhile, Volkswagen delivered 452,000 all-electric vehicles last year and targets half of its global output to be all-electric by 2030.
The German auto giant has allocated 159 billion euros over the next five years for investment in electrification, far more than any rival.
Cupra, which has close ties to VW’s other Spanish SEAT brand and focuses on high-margin sports vehicles, unveiled its new model at an event outside Barcelona. They will increase the number of models to seven.
“In the medium term, our goal is to ship 500,000 cars per year and drive our international expansion into new markets and into new segments,” said Cupra CEO Wayne Griffiths.
Since its founding in 2018, Cupra has delivered around 200,000 cars and its turnover will reach around 2.2 billion euros by 2021.
The Terramar model will be the first electric sports utility vehicle and will be available in 2024 either with an internal combustion engine or as a plug-in hybrid. The car will be produced at the Audi Gyor factory in Hungary.
The Tavascan is an electric concept car that is expected to be launched in 2024. Its production details have not been announced.
In 2025, Cupra will launch its UrbanRebel electric model. Production is planned at the SEAT plant in Martorell, Barcelona. It is the first electric vehicle commissioned by Martorell, which aims to produce 500,000 electric cars a year, including for the Volkswagen Group.