Volkswagen Announces Invasion of Electric Vehicles by 2022

2018 Tesla Model S and 2018 Tesla Model X

2018 Tesla Model S and 2018 Tesla Model X

It was also a cross-band concept, meant to be owned by the Group itself rather than any individual Volkswagen consumer or commercial brand.

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.

A newly unveiled concept auto promises a self-driving EV with a 400-mile range, joining VW's I.D. family of electrified vehicles.

To ensure a constant flow of batteries for the new cars, Volkswagen has signed an undisclosed number of contracts, valued at 20 billion euro ($25 billion), with battery manufacturers from both Europe and China. 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.

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.

"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", says Müller.

2018 electric-car sales projections by Bloomberg New Energy Finance
2018 electric-car sales projections by Bloomberg New Energy Finance Enlarge

CEO Matthias Mueller said its efforts includes trade-in incentives that get older models off the road.

The three new electric vehicles are just the tip of the iceberg as Müller said the Volkswagen Group will introduce a new electric vehicle "virtually every month" starting in 2019. Currently, VW produces battery operated vehicles in just three of its factories and in just two years another nine factory locations would be equipped for this goal.

In the longer term, the Group's pure BEVs would all sit upon one of two purpose-designed architectures. In the interim, the e-Golf sits on a converted version of Volkswagen's standard-issue MQB architecture, while early Porsche BEVs will use its J1 architecture and the first Audi BEVS will sit on the C-BEV underpinnings.

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

The bulk of the plants, nine, would be added to the EV production roster over the next two years.

Separately, the German carmaker reiterated guidance for higher vehicle sales and revenue this year and for a group operating margin of 6.5-7.5 percent after 7.4 percent last year.

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