Volkswagen said it will launch a new electric vehicle (EV) virtually every month from 2019, as the company seeks to expand production of Evs globally on a massive scale.
The German automaker, which wants to accelerate the Roadmap E transportation electrification strategy unveiled last year, said that 16 locations across the world will be used to manufacture battery powered vehicles by the end of 2022.
In two years from now, the company's EV production sites will increase from three to 9.
Volkswagen has already selected its battery cell suppliers and signed technology contracts worth €20bn for Europe and China alone. The company said it will soon take a supplier decision for North America.
The company plans to build up to three million EVs annually by 2025 and market 80 new electric models.
In 2018, another nine new vehicles, three of which will be purely electric-powered, will be added to the company;s electric portfolio of eight e-cars and plug-in hybrids.
Recently, the company showcased the Audi e-tron, the Porsche Mission E and the ID VIZZION, another member of the Volkswagen ID family at the Geneva International Motor Show.
Volkswagen CEO Matthias Müller said: “This 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.”
Müller emphasized that by investing in electric vehicles does not mean that the company is turning its back on conventional drive system.
“We are making massive investments in the mobility of tomorrow, but without neglecting current technologies and vehicles that will continue to play an important role for decades to come,” said Müller.
“We are putting almost EUR 20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than EUR 90 billion scheduled over the next five years.”
The Volkswagen Group said it concluded the 2017 fiscal year successfully. At €230.7bn, the company's sales revenue was up 6.2% on the prior-year figure.
Sales revenue of the ŠKODA brand increased by 20.8% year-on-year to €16.6bn in the 2017 fiscal year. At €60.1bn, sales revenue for the Audi brand in 2017 exceeded the previous-year figure by €0.8bn.
