Published: Thu, September 14, 2017
Markets | By Erika Turner

Volkswagen announces massive investment in electric mobility

Volkswagen announces massive investment in electric mobility

All 300 models in the Volkswagen Group range will come with electrification from 2030. These 80 new vehicles will include 50 models which are expected to be fully-electric and 30 vehicles which will be plug-in hybrids.

"We have got the message and we will deliver" Mueller said, referring to the diesel emissions scandal and events that followed. "The transformation in our industry is unstoppable".

Asked by reporters at the Frankfurt auto show whether he could imagine following rivals in looking at changing the group's structure, Mueller said: "Others are always faster than Volkswagen but, somehow, we are still successful".

The scandal proved to be the strategic shift driver for the company, but this has put VW on a tighter space as they neglect the electric vehicle race while others have been rampaging with their developments and advances.

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Volkswagen has stepped up its shift toward the electric auto and is planning to invest over €20 billion or $24 billion in the zero-emission vehicles by 2030 as it tries to challenge the pioneer in the industry Tesla in creating mass market vehicles. Muller said the Group was initially aiming for electric models with a range of around 370 miles, and was also conducting research into solid state battery technology with a potential range of 1000 miles which he hoped could be brought to production by 2030. Crozz concept at Frankfurt and confirmed the all-electric crossover will go into production in 2020 as part of its Strategy 2025 EV roll-out. Automakers are also searching for ways to adapt to a future in which people find ways of getting from one place to another without necessarily owning a auto, such as car-sharing or ride-hailing through smartphone apps.

Luxury brand Audi, the group's largest earnings contributor, will start selling its first all-electric SUV in 2018 and add two more purely battery-powered vehicles in the next three years.

Speaking to Xinhua, a Daimler spokesperson further noted that diesel vehicles would continue to play a "significant" role in the company's portfolio until 2025.

"The heated debate on driving bans in cities, on the future of diesel and e-mobility shows the times when our industry celebrated itself here in Frankfurt, basking in its own glory, are definitely over", said Mueller, who arrived on stage in a self-driving prototype dubbed Sedric.

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