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Volkswagen Group Announces 9 New Electric Vehicles For 2018

Volkswagen Group Announces 9 New Electric Vehicles For 2018

It plans to decide on North American suppliers soon.

Four out of 10 Volkswagen Group's cars were sold in the Chinese market previous year, the Wolfsburg-based German company announced here on Tuesday at its annual media conference.

Volkswagen has outlined an ambitious production plan for electric vehicles, selecting no less than 16 global factories to build EVs through the end of 2022.

Taken together the investments should help Volkswagen produce its planned 3 million electric cars a year by 2025. He went on to say this rapid roll out 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".

"We are putting nearly Euro 20 billion (~$25 billion USD) into our conventional vehicle and drive portfolio in 2018, with a total of more than Euro 90 billion (~$111 billion USD) scheduled over the next five years", he says.

Pressure has intensified on Volkswagen to overhaul its lineup.




Despite focusing electric vehicles, Volkswagen remains committed to diesel-powered models as the automaker says modern diesel engines are "part of the solution, not part of the problem".

Unlike some of its competitors, Volkswagen isn't going entirely in on electric vehicles - for now.

Volkswagen plans to launch the first full MEB auto, the I.D. hatch, in 2020 as the leader for an entire I.D.

He also confirmed every single one of the Group's 300 models would have an electric variant by 2030, though in many cases this would be just a plug-in hybrid. Audi is set to begin deliveries later this year of the all-electric E-tron crossover. Producing the powerpacks itself is not in the cards. Tesla, though struggling to deliver cars on time, has invested $17.5 billion in electric vehicle batteries and has alluded to plans for future gigafactories. "Others can do it better than we can". To hit that target Bloomberg reported that the manufacturer plans a brisk pace, rolling out a new electric model almost every month starting in 2019. In terms of operating profit, an operating return on sales of between 6.5 and 7.5 percent is anticipated. The company reiterated a target to lower that ratio to 6 percent by 2020.

In response, Volkswagen has started to shift its focus to environment-friendly cars. Sales revenue is expected to be up by as much as 5 percent on the prior-year figure.

"The results of the year 2017 demonstrate, we are actively shaping the transformation of our company".


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