Volkswagen Group has been talking about EVs for years. Since we know the massive brand has all the necessary tools and finances to make a big splash in the segment, we've been eagerly anticipating the launch of its ID family of all-electric cars and SUVs. Needless to say, they're beginning to arrive.
In the past, Volkswagen has said it expects electric cars to account for 20 percent of its total sales by 2025. It has also promised 75 EVs by 2029. In addition, the automaker says that it expects price parity between gas and electric cars during the second wave of its MEB-based models.
Now, it appears VW is on track to make all of this happen. The Group plans to invest $86 billion in e-mobility, hybrid tech, and digitalization over the next five years. Keep in mind, $41 billion of that will be invested in battery-electric cars alone.
VW also reiterated the previous announcement, albeit slightly adjusted. VW Group plans to launch 70 fully electric vehicles by 2030. Interestingly, 20 of these are already in production, nearly 10 years ahead of the goal.
All of this is part of VW's Group's new five-year planning cycle, which was just approved by the board this week. To put it in perspective, Volkswagen estimates that it will produce some 26 million all-electric models this decade. Of those, 19 million will be on the MEB platform. CEO of Volkswagen Group Herbert Diess shared:
“Having set the course for a battery-electric future in the Volkswagen Group early on, we are now a global leader with our electric platforms and a broad range of electric vehicles. In the coming years, it will be crucial to also reach a leading position in car software in order to meet people’s needs for individual, sustainable and fully connected mobility in the future."
Will Volkswagen Group continue to push forward? Will it become a clear, global leader in the electric vehicle segment? Share your thoughts with us in the comment section below.