Volkswagen says high demand is helping its EVs turn a profit sooner than expected

Volkswagen said Tuesday that several of its battery-electric models, including the Porsche Taycan, are already sold out for 2022 and that high consumer demand is helping its electric-car effort become as profitable as its internal-combustion lineup more quickly than expected.

Volkswagen has worked for several years on an aggressive plan to transition to electric vehicles, aiming to have EVs account for half of its global production by 2030. While the plan isn’t expected to hit its full stride until the middle of this decade, it’s already bearing fruit. Volkswagen was the leading seller of EVs in Europe, with about 25% of the market. In the U.S., it was second behind Tesla, with about 7.5% share last year.