Volkswagen intensifies electric vehicle plans with production drive

Volkswagen has locked down $25B in battery supplies for its electric vehicle push

Volkswagen's CEO Matthais Müller announced the details of its plans to extend its green credentials at the company's annual media conference in Berlin.

Europe's largest automobile manufacturer Volkswagen Group on Tuesday said it was rapidly expanding its capacity to produce battery-powered vehicles and would equip 16 locations across the globe to do that by 2022.

The plan builds on Volkswagen's 'Roadmap E' initiative, which was launched last September and promises to bring 80 new EVs to market by 2025, when the group also expects to have the capacity to produce three million EVs annually. The Group now produces electric vehicles at three locations, and in two years' time a further nine Group plants are scheduled to be equipped for this objective.

He added that a third of the auto maker's nine new vehicles for 218, will be 100% electric powered.

"Over the last few months, we have pulled out all the stops to implement "Roadmap E" with the necessary speed and determination", Müller told his audience. Müller added that from 2019, it plans to offer a new electric vehicle, "virtually every month". "This is how we intend to offer the largest fleet of electric vehicles in the world, across all brands and regions, in just a few years". A supplier decision for North America will be taken shortly. Yet, Muller said electrification does not mean the firm is moving away completely from conventional technologies.

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The company still reiterated its commitment to "conventional vehicles", which we assume means diesel and gasoline vehicles. "We are putting nearly Euro 20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than Euro 90 billion scheduled over the next five years".

As we discussed in the latest episode of the Electrek Podcast, Volkswagen's electric auto efforts mostly consist of press releases and concept vehicles at this time, but they seem quite serious about it based on their investments.

The Volkswagen Group says that it has the financial resources for the transformation.

"Sales revenue for the Volkswagen Group is expected to be up by as much as 5% on the prior-year figure", the German-based manufacturer said.

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