Volkswagen will invest billions of dollars in the development of electric vehicles

Herbert Rhodes
September 13, 2017

They are all hoping to hit ambitious hybrid and all-electric vehicle sales targets with a flood of new models by the mid 2020s. This is not some vague declaration of intent. And we'll lead that transformation.

The Germany automaker previously had said it would spend over €10 billion before 2025 in electric vehicles.

Herbert Diess, chairman of the Volkswagen brand board of management, said: "The Volkswagen Brand will be investing 6 billion euros (circa £5.5m) in electric mobility over the next five years".

From a holistic approach to modular system integration to full-vehicle manufacturing and assembly, Magna works closely with global automakers to solve problems, identify new materials and processes, and provide unique solutions to industry challenges.

Volkswagen has unveiled their new Volkswagen I.D. Crozz electric vehicle concept at the Frankfurt Motor Show. Volkswagen says it'll need more than 150gWh (gigawat hours) of capacity every year by 2025 - equivalent to at least four gigafactories - and that's just for its own electric fleet.

The German auto giant will also commit nearly $A9 billion in electric vehicle (EV) technology development over the next five years, with the ID family extending Volkswagen's model range and forming a key part of its electric mobility future.

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In order to meet this huge requirement, a tender process has been initiated with regard to long-term strategic partnerships for China, Europe and North America. These concepts largely reflect the future vehicles that Volkswagen will make.

It's also encouraging to see such a large part of the sum going towards the battery supply side.

Müller added: "For us, the transformation of transportation and the energy transition are inseparable".

The head of VW said that at this stage the company can not completely abandon the internal combustion engines since the infrastructure for electric vehicles is not ready yet.

As well as developing all-electric vehicles, VW will continue to improve its internal combustion offerings and hybrid electric powertrains. "And we won't achieve our climate targets without efficient and clean latest-generation diesel vehicles". Significant improvements in consumption and emissions are promised.

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