Volkswagen to expand production of electric vehicles worldwide

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Roadmap E was announced previous year to speed up the pace of electrification of VW Group products across brands including Audi, Porsche, Skoda and Volkswagen, and premium brands including Bentley and Lamborghini.

Currently, electric vehicles are produced by just three VW factories with a further nine scheduled to be equipped for this goal within two years, it added. This will add to the group's eight existing electric and plug-in hybrid models. Volkswagen, despite its continued faith in diesels and despite being embroiled in ongoing disputes with German diesel auto owners, is pushing ahead with plans to introduce an electrified version of all 300 models it sells by 2025.

Sixteen of Volkswagen's factories will be equipped to build battery-powered vehicles by the end of 2022, the company announced.

"The importance of electric-powered cars will grow considerably in the medium term", forcing carmakers to ratchet up spending on the technology, EY vehicle industry specialist Peter Fuss said. 80% of its sales are in Europe and China, two markets where more rigorous emissions rules and government mandates are forcing manufacturers to embrace electric cars.

As of next year, the 12-brand group will roll out a new battery-powered model "virtually every month", Chief Executive Officer Matthias Mueller said at the company's annual press conference.

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2018 will see the launch of the first "I.D." branded VW model.

The company still reiterated its commitment to "conventional vehicles", which we assume means diesel and gasoline vehicles. But Diess said VW expected to benefit from further cost savings, expansion of modular production and growing demand for its new vehicle models in North and South America. "We are putting nearly Euro 20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than Euro 90 billion scheduled over the next five years", he added.

The main takeaway from this bit of news is that VW must be at least somewhat anxious about the future supply of batteries if its willing to tie up $25 billion in raw material and parts costs all for models that are still years away from production. It plans to purchase a total of 50 billion euro's worth of batteries to power its vehicles.

While the entire world automobile market is thriving towards zero emission pure electric mobility, Volkswagen has its own reason to do so.

Chinese producer CATL, which Mueller confirmed today as one of Volkswagen's future battery providers, is considering a site in Europe for its first overseas plant, Chairman Zeng Yuqun said a week ago.

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