VW to launch one electric auto a month in 2019

Javier Stokes
March 16, 2018

This year alone, the group plans to add nine new vehicles, three of which will run purely on battery power.

All of those electric cars will require a lot of batteries, and Volkswagen claims to have signed contracts with suppliers worth almost $25 billion.

Volkswagen is spending close to two billion euros to convert two factories in Germany to electric auto manufacturing, while Mercedes-Benz maker Daimler plans a battery plant in the United States.

For the record, Volkswagen AG, as a part of its business decision to manufacture electric vehicles, is building a standalone sub-model for its battery-driven cars.

Volkswagen CEO Matthias Müller said in a statement that the company has "pulled out all the stops" to implement its Roadmap E strategy. This is before a supplier is decided for North American markets, which will be announced shortly.

"To ensure adequate battery capacity for the massive expansion of environmentally-friendly electric mobility, partnerships with battery manufacturers for Europe and China have already been agreed".

QB Sam Bradford to sign with the Arizona Cardinals
Bradford, the No. 1 overall pick in the 2010 draft, is known for his strong and accurate arm but he has struggled with injuries. Look for Bradford to be the starter but it will be highly disappointing if the Cardinals were done at the position.

"Roadmap E" was launched by Volkswagen last September, with the aim of bringing 80 new EVs to the market by 2025 and the promise of a €20bn investment for the industrialisation of e-mobility. Modern diesel drives are part of the solution, not part of the problem, he claimed - also with regard to climate change.

In spite of the billions in cash outflows from the diesel crisis, says VW, net liquidity at the end of 2017 remained at a very solid Euro 22.4 billion. Volkswagen tells Bloomberg it intends to increase the number of factories configured to build electric vehicles from 3 as of today to 16 by 2022.

Volkswagen's 2017 annual pre-tax earnings were nearly double the previous year's at €13.9bn.

"The CO2 fleet targets will certainly pose the greatest challenge for us as a company until the year 2020", VW brand CEO Herbert Diess said.

Separately, the German carmaker reiterated guidance for higher vehicle sales and revenue this year as well as a group return on sales of 6.5 to 7.5 percent before special items, compared with 7.4 percent last year. 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. In the European Union, there is also a new, more time-consuming test procedure for determining pollutant and carbon dioxide emissions as well as fuel consumption in passenger cars and light commercial vehicles (WLTP).

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER