German Car Maker Volkswagen To Launch 70 New EVs by 2028
Volkswagen is fast-tracking its rollout of zero-emission vehicles with almost 70 New electric car models launches by 2028.
- Almost 70 new electric models by 2028 – instead of the 50 previously planned
- Comprehensive decarbonization program for the Volkswagen Group signed off
- Volkswagen Group targeting fully CO2-neutral balance by 2050
The German auto giant which previously has announced an ambitious plan to launch 50 new models in the next 10 years has pushed the envelope further with an additional 20 more electric variants. As a result, the projected number of vehicles to be built on the VW Group’s electric platforms in the next decade will increase from 15 million to 22 million.
Dr. Herbert Diess, CEO of Volkswagen AG, said: “Volkswagen is taking on responsibility with regard to the key trends of the future – particularly in connection with climate protection. The targets of the Paris Agreement are our yardstick. We will be systematically aligning production and other stages in the value chain to CO2 neutrality in the coming years. That is how we will be making our contribution towards limiting global warming. Volkswagen is seeking to provide individual mobility for millions of people for years to come – individual mobility that is safer, cleaner and fully connected. In order to shoulder the investments needed for the electric offensive we must make further improvements in efficiency and performance in all areas.”
The company’s 2025 target for the vehicle fleet by 30 percent across the lifecycle compared to 2015. Volkswagen electrifying the vehicle portfolio, with investment of more than €30 billion by 2023. The share of electric vehicles in the Group fleet is expected to rise to at least 40 percent by 2030. The new-generation electric vehicles going into production this year: the AUDI e-tron will be followed by the Porsche Taycan. And electric vehicles will be brought into the mainstream with the ramp up of the Volkswagen ID.
In order to support its electric offensive, LG Chem, SKI, CATL and Samsung are selected as strategic battery cell suppliers; solid-state batteries are also in its priority list.
Also, VW is installing 400 fast-charging stations along Europe’s major roads and highways by 2020 in collaboration with industry partners in IONITY. 100 of these will be located in Germany. That means there will be a station every 120 kilometers in the country.
But profit margins at the core VW brand are slipping due to higher investments into electric cars and challenges getting combustion-engine vehicles certified will also bleed the company all suggesting that the aggressive push will force Volkswagen to cut jobs.