Volkswagen has locked down $25B in battery supplies for its electric vehicle push
This was announced by Matthias Müller, CEO of Volkswagen AG, at the Group's Annual Media Conference in Berlin.
The ongoing initiative will see 16 sites around the world become home to battery-powered vehicle production before the end of 2022 - a significant jump from the mere three facilities where VW Group's electric vehicles are now being built.
When "Roadmap E" was launched last fall, Volkswagen announced plans to build up to three million electric vehicles annually by 2025 and market 80 new electric Group models. 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 objective.
The near-term plan includes nine new vehicles, three of which will be purely battery powered, to arrive in showrooms before the end of 2018.
And, as well as increasing the number of locations where battery powered vehicles will be manufactured from the current three, to 16, the carmaker has also secured battery deals for Europe and China worth €20 billion. VW Group says this is just to line up batteries for vehicles to be built in Europe and China; a decision about a supplier for North American production "will be [made] shortly", it said in a press release.
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"Over the last few months, we have pulled out all the stops to implement "Roadmap E" with the necessary speed and determination", Muller added. Beginning in 2019, Muller promised that there will be a new electric vehicle "virtually every month". "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".
It doesn't mean that VW is going all-electric though.
But don't think the company has given up on conventional gas and diesel engines just yet.
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.
"Sales revenue for the Volkswagen Group is expected to be up by as much as 5% on the prior-year figure", the German-based manufacturer said.
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