Published: Thu, September 14, 2017
Finance | By Kristine Clayton

Volkswagen Spending Billions on Electric Cars

Volkswagen Spending Billions on Electric Cars

All 300 models in the Volkswagen Group range will come with electrification from 2030.

Daimler AG's Mercedes-Benz unveiled a compact electric vehicle under its EQ sub-brand that showcases its efforts to make connected, electric, shared and autonomous vehicles.

The group plans to bring a total of over 80 new electrified models to customers by 2025, including some 50 purely battery-powered vehicles and 30 plug-in hybrids as it doubles its investment in zero-emission vehicles to 20bn euros (£18bn) in a bid to put dieselgate behind it.

Perhaps mindful of the emissions scandal of 2015, Matthias Müller, chairman of Volkswagen's board of management said: "We have got the message and we will deliver". And we'll lead that transformation. VW was taking up the challenge by developing new capacities to manufacture battery cells at its Salzgitter factory.

Automakers are spending heavily to develop and improve electric cars to meet increasingly tough government regulations limiting air pollution. Automakers "won't be shouting about it, but diesels will be part of their lineup", says Ian Fletcher, principal analyst at IHS Market.

Volkswagen VOWG_p.DE wants German and European industry to come together to help create a regional supplier of electric vehicle batteries to provide competition to Asian manufacturers, the head of its core autos division told Reuters.

The world is shifting toward electric vehicles, but it's proving to be a gradual process.

Volkswagen will offer both front and all-wheel-drive versions of the model, and promises that it will combine the ability of an SUV with the driving dynamics of a hatch, and offer ride comfort that on a par with the Golf.

Volkswagen has taken the covers off its latest electric concept - the I.D. Crozz. German giant Volkswagen is pledging to offer 23 all-electric cars by the year 2025, starting with the just-revealed ID Crozz in 2020...

Even Porsche, part of Volkswagen, didn't wait for the show but showed off its new Cayenne SUV on August 29 with an elaborate streamed event from its base in Stuttgart, Germany.

Muller said the company was likely to use two electric platforms, and is investing 20 billion euros (£18bn) into e-mobility, in one of the biggest procurement projects in the company's history.

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