Volkswagen eyeing global electric car market dominance by 2025

The German carmaker said reaching its target of one million electric vehicle deliveries this year could put it ahead of Tesla

Volkswagen is hoping to overtake Tesla next year and dominate the electric car market by 2025.

Volkswagen shares soared as much as 29% – the most in 12 years – after the German carmaker outlined aims to become the global electric vehicle leader by 2025 at the latest.

Volkswagen said reaching its target of one million electric vehicle deliveries this year could put it ahead of Tesla.