Volkswagen assigns $25 billion in battery orders in electric auto drive

Mae Love
March 14, 2018

The three new electric vehicles are just the tip of the iceberg as Müller said the Volkswagen Group will introduce a new electric vehicle "virtually every month" starting in 2019.

At the Volkswagen Groups annual media conference in Berlin on March 13, the German manufacturer announced that another 16 locations around the globe are to produce battery powered vehicles by the end of 2022.

Volkswagen CEO Matthias Mueller (L) and CFO Frank Witter pose next to the self-driving auto Sederic at the annual earnings news conference of VW in Berlin in Berlin, Germany, March 13, 2018.

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.

VW has said it plans to launch 80 new electric cars across the group by 2025 and offer an electric version of each of its 300 group models by 2030.

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"We have pulled out all the stops over the past months to implement the Roadmap E swiftly and resolutely", Chief Executive Matthias Mueller said at VW's earnings news conference. Müller added that from 2019, it plans to offer a new electric vehicle, "virtually every month". "The contracts already awarded have a total volume of around Euro 20 billion".

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. A decision on the supplier for North America will be taken shortly. Modern diesel drives were part of the solution, not part of the problem, he stressed-also with regard to climate change. We are putting nearly €20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than €90 billion [US$111 billion] scheduled over the next five years.

"We are investing strongly in tomorrow's mobility, but without neglecting the current technologies and vehicles that will continue to play an important role for decades", Mueller said.

The group's has weathered the dieselgate storm well financially in spite of the billions in cash outflows due to the scandal. 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%.

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