"Things are really moving," says CEO Matthias Mueller. "A change of course for the Volkswagen supertanker - full speed ahead to the future!"
Volkswagen has outlined an ambitious production plan for electric vehicles, selecting no less than 16 global factories to build EVs through the end of 2022.
The VW Group currently produces EVs at three locations. The "Roadmap E" plan will retool an additional nine group plants to manufacture electric vehicles in just two years.
Critically, the German automaker has already secured battery supply contracts for vehicles that will be sold in Europe and China, with contracts worth EUR 20 billion (~$25 billion USD). A supplier decision for North America "will be taken shortly."
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.
CEO Matthias Mueller suggests the company is not turning its back on traditional powertrains, despite the focus on EVs.
"We are putting almost EUR 20 billion (~$25 billion USD) into our conventional vehicle and drive portfolio in 2018, with a total of more than EUR 90 billion (~$111 billion USD) scheduled over the next five years," he says.
Image by Ronan Glon.