VW will produce electric vehicles in 16 locations by 2022

  • VW will produce electric vehicles in 16 locations by 2022

VW will produce electric vehicles in 16 locations by 2022

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". He said 160,000 older diesels had been taken off the road through trade-in incentives, and chose to update software on 4 million cars to reduce emissions. In total, the Wolfsburg-based automaker has said it plans to purchase about 50 billion euros in batteries as part of its electric-car push, which includes three new models in 2018 with dozens more following.

From 2020, it will roll out one electric auto "virtually every month" to give it the most varied fleet of electric models of any automaker.

Another aspect of VW's "Roadmap E" plan will see partnerships with battery manufacturers in both China and Europe in the ongoing development of its electric I.D. range of vehicles, a contract that costs a whopping €20 billion ($24 billion) total.

Volkswagen CEO Matthias Mueller says the automaker had "an excellent year" in 2017 and is committed to addressing concerns about diesel pollution.

That vehicle, targeted for production in 2022, is a joint project of Volkswagen's passenger-car group and its commercial-vehicle arm.

Certainly VW is keen to move away from its diesel cheating scandal-CEO Mueller suggested last week it expected diesels to continue as part of its European offerings.

Audi's E-Tron SUV will lead the next-generation rollout by launching later this year as a production vehicle - and is in a race with Jaguar to launch the first European BEV in the segment.

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. The company, which has struggled to secure sources of cobalt, a critical component for modern batteries, said that it's working on ways to reduce the amount of the element needed for its electric cars.

"This is not one of our core competencies", said Mueller, who has faced pressure from employee representatives to invest in battery-cell production.

LG Chem, Samsung and Chinese battery maker Contemporary Amperex Technology Co Ltd (CATL) will deliver batteries to VW, which has no plans to start producing powerpacks by itself, Mueller said. 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. The company reiterated a target to lower that ratio to 6 percent by 2020. "Not least because we must generate the revenue we will need for our enormous future investments".