VW to launch one electric vehicle a month in 2019

VW to launch one electric vehicle a month in 2019

VW to launch one electric vehicle a month in 2019

Sixteen of Volkswagen's factories will be equipped to build battery-powered vehicles by the end of 2022, the company announced.

"Roadmap E" was launched by Volkswagen last September, with the aim of bringing 80 new EVs to the market by 2025 and the promise of a €20bn investment for the industrialisation of e-mobility.

VW's emissions scandal, new Chinese quotas for electric cars and tightening rules on carbon dioxide (CO2) emissions in Europe are causing automakers to focus on green cars and self-driving technology.

The Volkswagen Group kicked off "Roadmap E" previous year which it says is the most comprehensive electrification drive in the automotive industry. CEO Matthias Müller noted that Volkswagen will introduce a new electric vehicle "virtually every month" starting in 2019.

The key officials of the automotive firm have stated that it is likely to buy out batteries worth almost 50 billion euros as a part of its business strategy to promote its electric vehicle manufacturing initiative.

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.

Meanwhile, the company has faced continued setbacks on its more affordable Model 3.

The size of the investments is in striking contrast to the current market share of electric vehicles and German manufacturers are now lagging behind its competitors such as BAIC from China, Renault-Nissan and Tesla.

However, the company chief clarified that there would be no change in the production of vehicles running on conventional drive systems. A North American buy will likely happen in the near future as they are continuing to look for stable sources.

The chief executive of the world's largest auto maker, Volkswagen, saidon Tuesday he is convinced of a comeback for diesel vehicles, two-and-a-half years after the company admitted to emissions cheating on a massive scale. "We are putting nearly Euro 20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than Euro 90 billion scheduled over the next five years".

At the same time, however, the Wolfsburg-based group will pump more than 90 billion euros into traditional diesel, petrol and natural gas motors, with a new generation of internal combustion engines set for release next year.

Unlike some of its competitors, Volkswagen isn't going entirely in on electric vehicles - for now.

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