Volkswagen intensifies electric vehicle plans with production drive

Darnell Taylor
March 14, 2018

The "Roadmap E" plan will retool an additional nine group plants to manufacture electric vehicles in just two years.

Today, the company unveiled its electric vehicle production plans with 16 production sites and a massive ~$25 billion investment in battery cell contracts.

Volkswagen CEO Matthias Mueller (L) and CFO Frank Witter pose next to the self-driving auto Sederic at the annual earnings news conference of VW in Berlin in Berlin, Germany, March 13, 2018.

The Volkswagen Group plans to have electric cars wearing all 12 of its automotive brands, plus its Volkswagen Commercial operation and its trucking companies, MAN and Scania.

Speaking to a group of worldwide reporters, Volkswagen CEO Matthias Müller said "Nine new vehicles, three of which will be purely electric-powered, will be added to the Group's electric portfolio of eight e-cars and plug-in hybrids" this year.

Malcolm Butler is off the market after choosing Titans over Lions
Last year Butler was upset he didn't get Stephon Gilmore-like money from the Patriots, but this is pretty close. This marks the second straight year that a Patriots cornerback will leave in free agency to join the Titans.

Chief executive officer Matthias Müller told the media conference that from 2019 there will be a new electric vehicle coming into production "virtually every month".

To ensure adequate battery capacity, partnerships with battery manufacturers for Europe and China have already been agreed.

"Over the last few months, we have pulled out all the stops to implement "Roadmap E" with the necessary speed and determination", Müller said.

Volkswagen has picked partners to provide battery cells and related technology worth around 20 billion euros ($25 billion) for its growing electric auto programme, adding further pressure on US pioneer Tesla. A decision on the supplier for North America will be taken shortly. The company had said it would build upto three million electric vehicles annually by 2025 and market 80 new models across its group of nine companies. Modern diesel drives were part of the solution, not part of the problem, he stressed-also with regard to climate change.

The Volkswagen Group says that it has the financial resources for the transformation. VW will be investing almost €20 billion into its conventional vehicle portfolio in 2018, with a plan to invest more than €90 billion ($111 billion) into that same fund over the next five years. Its development spend dropped 3.9 percent in 2017, down to €13.1 billion, or about 6.7 percent of its sales turnover, and it plans to lower that to six percent by 2020.

Other reports by

Discuss This Article