VW's emissions scandal, new Chinese quotas for electric cars and tightening rules on carbon dioxide (CO2) emissions in Europe are causing automakers to focus on green cars and self-driving technology. By making this strategy successful, Volkswagen will be able to launch the bigger fleet of environment-friendly zero-emission cars.
It has already chosen its battery cell suppliers and has locked in technology contracts worth up to US$25 billion for the Europe and China alone, he admitted, with U.S. deals set to follow. CEO Matthias Müller noted that Volkswagen will introduce a new electric vehicle "virtually every month" starting in 2019. A supplier decision for North America will be taken shortly.
VOLKSWAGEN Group will launch a new electric vehicle "virtually every month" in 2019 as it ramps up alternative-energy production in an effort to shake off the legacy of what it labels the "diesel crisis".
Over the past two years, German carmakers Volkswagen, Daimler and BMW announced 4.7 billion euros (R68bn) of investment worldwide in electric cars, the study by consultancy EY found. VW hopes 80 electrified models in production by then across its many brands, including 50 all-electric models and 30 plug-in hybrids.
Müller today admitted it had found space for another nine electrically powered cars, including three more pure BEVs.
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It's not the first time the manufacturer has expressed its desire to beat out other auto companies in the electric vehicle race.
"Over the last few months, we have pulled out all the stops to implement "Roadmap E" with the necessary speed and determination", said Müller. While "I.D." won't be a full standalone brand i.e Toyota's ill-fated Scion brand; I.D. models will be a bit of a sub-brand for Volkswagen with ID: Buzz, ID Crozz, and ID Vizzion all on the future roadmap.
"We are putting nearly 20 billion Euro into our conventional vehicle and drive portfolio in 2018, with a total of more than 90 billion Euro scheduled over the next five years", he says. "In terms of operating profit, an operating return on sales of between 6.5% and 7.5% is anticipated".
Bloomberg New Energy Finance projects that Germany will surpass Norway in electric-car sales this year, perhaps not surprising given their respective populations of 83 million and 5.2 million.