VW assigns 20 bln euros in battery orders, speeds EV push

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VW assigns 20 bln euros in battery orders, speeds EV push

Currently, the group produces electric vehicles at three locations.

However, under the group's new directive, this number is set to quadruple within just two years, as Volkswagen seeks to extend EV production to 16 of its factories by the end of 2022.

To ensure adequate battery capacity for this massive expansion, the company has already agreed to partnerships with battery manufacturers for Europe and China and has awarded contracts for a total volume of around Euro 20 billion.

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. Müller added that from 2019, it plans to offer a new electric auto, "virtually every month".

Volkswagen says that pushing for electric vehicles does not mean internal combustion units would die. He went on to say this rapid roll out is how "we intend to offer the largest fleet of electric vehicles in the world, across all brands and regions, in just a few years".

"Over the last few months, we have pulled out all the stops to implement "Roadmap E" with the necessary speed and determination", Muller added.




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.

As Muller detailed Volkswagen's increasing shift to electric vehicles, it was also reported that after the group's strong earnings in 2017, the company CEO's pay packet, plus additional benefits, surged around 40% to €10.14 million.

The Group already has eight BEVs and plug-in hybrids (though, admittedly, they're mostly plug-in hybrids).

Audi's E-Tron SUV will lead the next-generation rollout by launching later this year as a production auto - and is in a race with Jaguar to launch the first European BEV in the segment. The company didn't go into specifics but one of the electric vehicles is the Audi E-Tron which was recently previewed at the Geneva Motor Show.

Volkswagen plans to launch the first full MEB auto, the I.D. hatch, in 2020 as the leader for an entire I.D. 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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