VW Confirms 3 New EVs For 2018, SEDRIC Concept To Enter Production

VW assigns 20 billion euros in battery orders, speeds EV push

VW assigns 20 billion euros in battery orders, speeds EV push

A decision on the supplier for North America will be taken shortly.

At VW Group's annual media conference in Berlin, Germany, CEO Matthias Muller rolled out even more details on the plan he calls "Roadmap E".

The world's largest carmaker will equip 16 factories to produce electric vehicles by the end of 2022, compared with three now, Volkswagen said Tuesday in Berlin.

VW plans to produce as many as 3 million EVs a year by 2025 across its 12 brands, which include the VW marque, as well as Audi, Porsche, Skoda and Seat. "This is how we intend to offer the largest fleet of electric vehicles in the world". The contracts already awarded have a total volume of around 20 billion Euros.

Pressure has intensified on Volkswagen to overhaul its lineup.

Audi's E-Tron SUV will lead the next-generation rollout by launching later this year as a production auto - and is in a race with Jaguar to launch the first European BEV in the segment. Diesel is key to efforts to meet tighter environmental targets because of its fuel efficiency, even though it emits smog-causing nitrogen oxides.

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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".

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.

Volkswagen plans to launch the first full MEB auto, the I.D. hatch, in 2020 as the leader for an entire I.D. Tesla, though struggling to deliver cars on time, has invested $17.5 billion in electric auto batteries and has alluded to plans for future gigafactories.

Chinese manufacturer 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. "In terms of operating profit, an operating return on sales of between 6.5% and 7.5% is anticipated". Capex/sales revenue was also lowered significantly to 6.4% from 6.9%.

Managing the technology shift requires an intense focus on maintaining profitability from Volkswagen's current lineup. The R&D ratio, total research and development expenditure as a percentage of the Automotive Division's sales revenue, decreased to 6.7% from 7.3%. "We are actively guiding the changes in our business", he said.

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