VW To Spend $50 Billion In Push To Launch 50 Electric Cars By 2025

Volkswagen I.D. Crozz

NOV 16 2018 BY STEVEN LOVEDAY 110

Ahh the EV announcements come daily from VW and while we’re truly excited about what’s to come, we can only hope that it’s all a reality in the making.

How about a grand slew of affordable EVs that can perform like that of Tesla vehicles? How about long-range electric vehicles that you can buy just about anywhere and everywhere that are truly impressive in so many ways? We’re talking about a whole lineup of electric cars and SUVs that are designed to appeal to the masses. Volkswagen says it’s ready to make that happen.

Honestly, VW Group as a whole — arguably above any other automaker — has the finances, resources, and capacity to pull this off with ease. Based on its multitude of announcements, the company is well aware that it can (if it chooses) make this an incredible reality. Let’s cross our fingers and push hard for it to come to fruition.

Following in the footsteps of Hyundai’s announcement that it has secured more battery cells to make to enough Kona EVs to satisfy growing U.S. demand, and also on the heels of Rivian’s huge announcement of a viable all-electric adventure-based pickup truck and 3-row SUV. Now, VW Group has announced another massive investment over the next five years, in an obvious attempt to keep up with the newfound switch to EVs. The company is also now increasingly touting its upcoming connected services and self-driving tech.

As this press release reveals, VW has added a budget of another $11 billion between now and 2023 to bring its total investment up to $50 billion, which will help efforts to release some 50 new electric vehicles by 2025. The automaker claims to have the capacity to manufacture up to 15 million EVs on its new MEB platform within that suggested time frame.

Source: Automotive News Europe

Categories: Volkswagen

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110 Comments on "VW To Spend $50 Billion In Push To Launch 50 Electric Cars By 2025"

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Looks like another shot in a press release war against Tesla, at least that’s what I make of the fact that VW’s press release bluster tends to end up in Tesla related articles.

Ford was at this type of PR effort for a while, and nothing has been yet produced.

Not really. This is the main takeaway from the article, and what the press release was about.

“The company’s supervisory board voted on Friday far-reaching capital spending plans to begin mass production of electric vehicles in Europe, the most radical strategy shift since VW’s diesel cheating scandal in 2015.”

I.e. management have signed off on a spending plan, which is actual real news and something shareholders would be interested in.

Looking at your downvotes it seems like people are getting more and more annoyed about the constant VW bashing instead of being annoyed about VW announcements.

Fanboys just hate it when it is not Tesla. The more the merrier!

The voting system is easily manipulated by trolls on a mission to promote the meme that Tesla will soon be overwhelmed by the incumbents. I noticed that any suggestion that efforts of Tesla competitors aren’t quite the Tesla killers they are made out to be is systematically attacked by trolls.

People who actually care about EVs have long since noticed that VW is a master of press releases but has yet to show something truly impressive, hence the upvotes I imagine.

Hmmm… Well, I wrote a comment about how the reference to Tesla in this article was just another example of a writer trying to create a conflict where none exists, in an effort to present a “story” instead of just presenting the facts.

But according to Steven’s comment below, that was a mistake on my part. If VW really did claim they’re gonna make cars that can compete with Tesla’s at half the price, then they do deserve all the scorn which is being heaped on them here.

If VW really does crank up the volume of EV production enough that they can afford to undercut Tesla’s prices with economy of scale, then I’ll be the first to shout Hallelujah! But to claim they can sell cars just as good as Tesla’s for half the price… well, I guess VW’s marketing department must think we’re amazingly gullible, if they think we’re gonna believe that load of bull pucky.

I think of it this way – is a VW Golf/Jetta as “good” as a BMW 3 series/5 series?

The answer is broadly “yes” for most people. They may not have all the bells and whistles a BMW does, but they’re good vehicles for a lower price.

Personally that’s what I see when I read the quote. Others seem to believe it’s VW claiming they can build an exact match for a Model 3, but half the price, which is obviously never going to happen.

I have to assume VW means “just as good [as Tesla build quality]” for “half the price [of the actual typical Tesla sale]”. If VW’s goal is to have the average I.D. sales price be 50% of the average Tesla sales price ($59,300), then… well, it’s still highly unlikely, but at least it’s not crazy.

There is room for savings: VW can cheap-out on the interior trim, provide a frame of stamped metal that barely receives a 5-star crash rating, and not bother tuning the chassis for track-capable handling, and still end-up with something that handles like a heavy Golf (aka “good enough”). I’m sure VW wouldn’t hesitate to say it’s “even better than Tesla” because the body panels are welded better.

And it would not bother me one bit. In fact, I’d say “welcome to the EV club!” and would conclude that Elon had won by forcing the industry to move that far. People can get wrapped-up in the Tesla vs XYZ argument, and forget that the battle is Humans vs No Humans. When the humans are winning, we can all lighten up, right?

“But to claim they can sell cars just as good as Tesla’s for half the price… well, I guess VW’s marketing department must think we’re amazingly gullible, if they think we’re gonna believe that load of bull pucky.”

Even if they can do it, it just means they will mostly eat sales from other firms and end up completely supply constrained. As good as Tesla for half the price is easily the best car available in the $25k price range. Global volumes for that price range are enormous.

VAG also claimed “Clean Diesel”. They can claim all they want

I have to admit, they are unbeatable. They have produced more EV announcements than Tesla has produced EVs.

Guess I have to buy more VAG shares.

I’m sure that’s one more thing what these press releases are about.

huh? You want female parts?

some of you really do not have a sense of humour.

VW taking EV’s seriously is good for the company’s survival, but bad for shareholders. Large write-offs, inventory gluts, and massive cash burn incoming.

“How about a grand slew of affordable EVs that can perform like that of Tesla vehicles? How about long-range electric vehicles that you can buy just about anywhere and everywhere that are truly impressive in so many ways?”

Did ^^^^^ come from the press release? Did VW claim that their offering will perform like a Tesla?

Yes, we just published an article on that the other day. It’s linked in the post.

https://insideevs.com/vw-2020-electric-cars-match-tesla-half-price/

I believe their statement was:
“We will come in 2020 with vehicles that can do anything like Tesla and are cheaper by half.”
I wouldn’t translate that into “affordable EVs that can perform like that of Tesla vehicles”.

I suspect they meant features not performance.

Or range. $25k 300 mile EV for example. I doubt it means a Model 3 LR for $30k though

Can do ANYTHING like Tesla. If they’re going to say ANYTHING, then we can assume that means ANYTHING. Range, features, performance, etc.

Half the price of a Tesla LITERALLY means $24,000 to about $75,000 as of Nov. 2018.

Performance IS a feature!

Yes, maybe 7 years from now, how will Tesla have evolved in 7 years from now? No one knows what a Tesla will perform or look like in 7 Years, not even Elon.

okay, this is getting confusing. So how many $ billions has VW already budgeted for EVs? Is it $100 billion , $200 billion, or $billion du jour? And is the timeline 2018, 2020, 2025, or x+5 years? Maybe VW should update and publish new powerpoint slides.

Not really, the source article says VW is going to spend additional 10B euros (total of 44B euros) on EVs through 2023 vs last year’s plan. All it really means is they are adjusting their plans some and planning on more EVs than they did last year.

Don’t accumulate all the press releases. A lot of those battery contracts were for future production, probably not all of those are included here (just the amount spent through 2023). Some are related to other divisions, like autonomous driving spending.

I think part of the problem is the “rolling news” style posts on this site (and the world in general). This is at least the second article on what happened at that supervisory board meeting, both taking slightly different things away from it based on the articles they read before posting them here.

There also seem to have been articles prior to the meeting announcing that VW group were going to consider this proposal when they sit, so basically half a dozen articles on IEV on the same thing, but at different points in the process, written by at least two different people.

No wonder people are confused and feel like VW are pumping out press release after press release with huge numbers.

That’s before we get into the confusion of VW and VW Group and which stories relate to which entity.

I’m pretty confident that all the wildly different and often ridiculous EV vaporware claims coming from VW over the last few years are not a result of different writers having different takes on VW’s press releases. It comes from VW not having any firm plans to put EVs into volume production, but their marketing department continually churning out press releases claiming they do.

Is there any truth buried in the torrent of recent announcements? Maybe, but like the shepherd boy in “The Boy Who Cried Wolf”, reasonable people will no longer believe anything they say.

We need to watch what VW is actually doing, and ignore all the bull pucky their marketing department is churning out.

What ridiculous vaporware claims have they made over the last few years? What differences have there been? VW have been consistent on the MEB platform, the vehicles they have said they are going to release, the approximate dates they are releasing them. What VW are actually doing at this precise moment and over the last year or so, is signing major contracts with battery suppliers, getting management approval for significant funds for EV development and rollout (this article), assigning future EV production to specific factories (with pretty specific dates) and continuing to update on their announced vehicles, whose production dates tally with the factory and spending commitments. Yes, there’s lots of stuff coming from interviews with execs, and you can rightly take a lot of that with a pinch of salt, but following the money (above) VW have been pretty consistent in their claims. As for the torrent, there’s a lot of announcements sure – they seem to be doing a lot, and investing a lot, so it makes sense – but a lot of the torrent is more to do with the way things are being reported on IEV than actually being torrents (the aforementioned half a dozen articles… Read more »

Mr Deiss misspoke. It’s 5 billion, not 45 billion.

They are on a roll:
https://www.printedtp.com/

Someone make this happen. I think a quick graphic effort of VW tags off InsideEVs would easily produce a whole role of toilet paper.

Same $50B as the batteries, or a new $50B? Suspicious number IMO.

Obviously additional funds since the last commitment was until 2023 and this is for 2023-2025.

From the article, “As this press release reveals, VW has added a budget of another $50 billion between now and 2023.”

See the word “another” in the sentence?

That seems to be a comprehension/typing error on Steves part. Go read the source article. They’ve added another 10B euros to their budget, now totaling $50B.

Adjusted wording. thank you.

The $48 billion battery contract announcement never specified a timeline… This $50 billion through 2023 budget mentioned here likely encompasses the part of the battery contracts that are to be realised through 2023, but not anything beyond that.

There are battery purchasing contracts with LG, Samsung, CATL for $48 Billion (until 2025 ?). There is another later contract with SK for cell deliveries in the USA and shared cell production with in SK in Germany is discussed. This are VARIABLE cost e.g. purchasing of components/parts.

Then there is this $50 Billion of INVESTMENTS e.g. Capex approved from the board now, which includes (1) entertainment systems, (2) self-driving and (3) machinery plus restructuring of plants for EV production.

50? Do they even make 50 different gasoline models?!

Way way more. Actually only having 50 EVs by 2025 isn’t all that ambitious. They are already in the double digits with the models cleared for production and in production.

Hm, a further question was about that money and what part of that is for EVs. I think DIess answered that about 30B € (of the 44B) will be for EVs.

Always happy to see VW talking about EVs … competition will be good. Keep talking … and talking … and talking. We’ll see someday … keep talking …. and stay tuned.

Just more lip service. Meanwhile, in reality, VW can’t mean the demand for the Golf GTE and the e-Golf due to battery supply issues.

This isn’t true. The production lines for both those models have simply been maxed out. They seem to have surplus batteries since they recently started to make electric transporters.

Strange: According to other actual announcements of VW they will build 1 million BEV in 2025. I am confused

Join the club.

When they are talking about the “MEB Platform” it includes any subbrand from the VW Group that will use it. (VW, Seat, Skoda, some Chinese brands, maybe Audi for lower end cars…)

1 Million is just for the BEVs from the VW brand. (they want to make 1 Million yearly, by 2025)

15 Million is every MEB using brand and all years combined (2020-2025)

Yeah, that was my understanding of the “1 million” figure as well.

Though at that time they were talking about 10 million total on the BEV platform — so I guess it might be outdated? Not sure though, since the new 15 million figure is “up to”…

“Strange: According to other actual announcements of VW they will build 1 million BEV in 2025. I am confused”

VW’s marketing department is churning out lies so fast they can’t keep track of them.

I hope they really are planning on a whole slew of new plug-in EVs, and I hope the reports about spending some $48 billion securing battery supply over the next several years is true.

But it’s long past time to start ignoring all the bull pucky coming from VW’s marketing department about EVs, and time to start watching what they are actually doing.

About a million of that will be spent on worthless stories like this one.

How mush is Adobe? $50B?

If anyone can bring the “EVs for the millions, not the millionaires” that’s only VW. For the rich, they already have Audi and Porsche.
The big rEVolution will happen in 2020. I don’t think it is a coincidence that Electrify America, Ionity and other charging networks will be ready by the half/end of 2019.

Electrify Amearica’s first phase will be ready by mid 2019, because that’s what the court settlement demands.

The Model 3 is not “for the rich”. People are trading in Priuses, and even Civics — and the base variant isn’t even out yet… Sure, even more affordable BEVs will be a welcome addition, further broadening the market — but this sort of propaganda is not helpful.

This is great news.
People who keep repeating “it’s all just talk” seem very desperate to me. It’s very obvious that VW is now investing alot of money and ressources into this. And they can’t suddenly start the I.D production tomorrow when everything is planned for the end of 2019.

Another Euro point of view

I am not going to invest time in analizing what triggered these announcements but if I have got it right from bits and pieces I collected left and right is that VW group had a major board of directors meeting of the class that is held once per year or so and where they define their future strategy. So it is not like the marketing director or VW USA said in cocktail party after drinking 0.5 liter of champagne that perhaps VW will build an EV that will cost USD 9k and have a 800 miles range after a 10 minutes charge. Board of directors resolutions are pretty much solid as far as mid term future is concerned. Anyway due to EU regulations regarding future emissions they have little choice. And you are right, large group plan ahead by many years, that is exactly the reason why they post consistent huge profits years after years. Bad planning triggers huge costs. I enjoy my evening bubble bath of silly comments again tonight in here, how could I best relax at the end of a hard working week ?

The press conference today was pretty telling, it wasn’t dedicated to EVs, this was about the future of VW as a whole and yet at least 80% was about electric cars. And not just because they were prompted by reporters, this was also true for their opening statements.

Got a link?

(No pun intended 🙂 )

Thanks! Mostly confirms things that were already mentioned elsewhere, or on this article; but there are some interesting points: * 30 of the mentioned 44 billion Euro investment in 2019 – 2023 are specifically for EVs; rest for other future technologies (autonomy, sharing, digitalisation). * These 44 billion comprise a third of total spendings (whatever that means…) in that time frame. * The planned investments include a potential joint venture with an existing cell maker; any further spendings on that front not part of the plans yet. * Complete transition to zero emission vehicles by 2050. * Production of ID. is supposed to be entirely zero emission, including cells. * Lifetime of 200,000 km. (Seems a bit low? Not sure what that statement was referring to exactly…) * ~150 GWh per year needed by 2023. (That suggests close to 2.5 million BEVs per year already in 2023? Interesting, since thus far they have been talking about ~3 million by 2025…) * Emden will produce MEB-based sub-compacts and sedans under several brands. * Several variants of the ID. BUZZ will start production in Hannover in 2022. (I.e. both the consumer variant and the commercial van AIUI.) * Value add potential for… Read more »

Thank you

“People who keep repeating ‘it’s all just talk’ seem very desperate to me.”

You must be new here.

Spend some time browsing the history of the VW-tagged stories here, using the “Categories” menu at the top. Not the recent stories; go back a year or two, and then start reading… and think about how many of VW’s claims for putting EVs into production have come true. Or rather, how very very few of them have.

Don’t take my word for it! Check it out for yourself.

And why would we be “desperate” if VW’s lip service actually came true? We EV advocates would be enthusiastically chanting “Go Volkswagen!” if they would do even a quarter of what they keep claiming. Heck, even just 10% would be worth enthusiastic cheering!

Care to provide some examples? I had a look, skipped to around page 15 (stories from 2016) and the articles were about the the e-Golf, dieselgate/Electrify America, patents for car designs and the MEB platform. For example – November 2016 – https://insideevs.com/volkswagen-discusses-meb-electric-platform-long-range-open-design-cheap-build/ “Volkswagen intends to launch the first electric cars based on its MEB platform by 2020 with a skateboard battery pack ” “Developing a generic electric vehicle platform is also important from economic stand point, as Volkswagen says the prices of the upcoming production I.D. (with a 250+ mile range) is to be comparable with diesel Golf (€30,000, $33,500) – something which can only happen with help of volume of scale.” That sounds remarkably like the I.D. that’s they recently said would have around that range, around that price and would be built on the MEB platform with production starting next year. That’s a pretty consistent story. Saying the same thing now as they were almost two years ago. And here’s another on page 20 (January 2016)- https://insideevs.com/volkswagen-budd-e-microbus-with-101-kwh-battery-revealed-at-ces/ “And while even a casual glance of the BUDD-e says “I won’t be headed to production”, VW says this shows off the company’s new MEB electric platform, and offers a look… Read more »

You can’t blame people for being skeptical. VW has talked a lot and delivered little. It is ONLY when Tesla decimated Audi sales that they finally cried uncle and started taking EVs seriously.

Yes, this is good but perpetrators of Dieselgate do not get the privilege of the benefit of the doubt.

Being sceptical is fine; the same people spamming every VW article with dozens of repetitive bashing comments is not.

Why desperate? And really why all the Tesla vs. VW argument. Tesla is NOW very competitive in the premium vehicle segment. It is starting to make money. It doesn’t NEED (and maybe shouldn’t want) to compete with VW’s (or Toyota’s or GM,s or Ford’s etc., etc.) future mass market priced cars (assuming VW or the others can pull it off and actually make money from it which is in no way certain). Tesla might well be wise to remain a premium vehicle maker like MB, BMW Porsche, Audi, etc. Right now Tesla owns the premium electric segment and has brand cachet which allows them to charge a premium for their vehicles. The other premium makers are playing catch-up and so far their coming EVs can’t compete well in terms of overall efficiency. It may well be quite a shock to the premium European car makers when the Model 3 arrives there in volume.

Watch all the downvotes go. Posts pointing out there are usually two price points in the car market (mainstream and premium) seem to get them a lot for some reason. People hoping Tesla will start mass producing cheaper cars perhaps?

Unfortunately, most press about VWs planned EVs calls them “Tesla rivals” (or even “killers”) all the time; and VWs own Tesla comparisons reinforce that notion instead of dispelling it — so it’s no wonder people get confused…

Yes, Tesla is publicly traded. Its board has the responsibility to maximize profit for shareholders. If beancounters conclude that it will generate more profit by dominating the premium market, but that it would both dilute its brand and reduce its per-unit margin by going down-market, then there would be legal pressure for Tesla to continue to “aim high.” Going private would avoid that. Creating a new badge/brand/marquee for future econobox models could also allow a broader range of products.

I seriously believe this will happen!
Somehow, someday, somewhere…

‘VW has added a budget of another $50 billion ”

Presumably they allocated diesel gate compensation and penalties to this number to make it look impressive.

Looks like they added $10B to the figure they agreed on last year. It’s explained a lot better in the source link than the article here.

“VW will spend 44 billion euros ($50 billion) through 2023, part of a push for now more than 50 full-electric models by 2025. This is 10 billion euros more compared with last year’s planning round.”

I.e. the supervisory board have agreed to increase the budget for their 5 year EV plan that was agreed last year, by 10B/~30%.

I’m no fan of VAG but they did indeed do wrong but can’t they ever reform themselves and do a good thing or are they going to get reminded of this for the next 200 years(or sooner if global warming has its way)?

(⌐■_■) Trollnonymous

We’ll remind them till they finally displace all the carcinogens they spewed in the air.
Till then, anyone purchasing a VAG product is just rewarding bad behavior.

No, people purchasing VW BEVs are rewarding good behaviour.

(People who keep purchasing VW combustion cars are a different story, though…)

I think they are serious, not just wordsmithing – and when they do, they’ll drag GM, Toyota, Honda, Ford, etc into the EV world as well. The majors can ignore Tesla, but they can’t ignore VW. Elon wins!!!

Without the stupid last sentence I would have upvoted your comment.

What Ranss12 said in his last two sentences is the exact opposite of stupid. It’s both very important and highly relevant.

The major auto makers turning to making EVs is precisely what Elon has been fervently hoping for. Elon’s goal, the purpose to which he has dedicated so much of his life, is the end of burning fossil fuels to support transportation. Tesla is merely a means to that end.

Read it for yourself, in a transcript of an interview on the “Recode” podcast:

https://www.recode.net/2018/11/2/18053428/recode-decode-full-podcast-transcript-elon-musk-tesla-spacex-boring-company-kara-swisher

The incumbents can ignore Tesla for a while, but not indefinitely. (If they keep doing nothing, Tesla will just keep eating away at their market shares…)

VWs actions are to some degree an acknowledgement of that fact.

It’s true though that with the first one faltering, the others can afford ignoring Tesla even less 🙂

Bye bye, Tesla! 😀

LOL. VW is at least 4 years behind.

(⌐■_■) Trollnonymous

or he’s 8 years too early?…….LMAO

Jeez can they just shut up and start making some cars?

I’ve been reading these press releases since 2014 and…checks internet…VW’s website still lists the 2018 eGolf as a current product and it has 125 miles of range for $38,000 in top trim.

Put up or shut up.

BS. So tired hearing this from VW. Show me the EVs already. Enough talking.

Seven years away is an eternity. I sometimes wonder if this is all about telling potential Tesla customers to not buy and wait.

It’s not an eternity in terms of automotive production planning.

Super Nice Concepts That Are Beginning to Resemble Tesla & Jaguar Which Is Very Good Thing ! , They Will Sell On That Aspect Alone …But Will They Come to Fruition Anytime Soon ? That Is The Big Question !

Question regarding the annual EV deliveries from the Tesla and VW brands.

The annual EV deliveries from which of these two brands (Tesla or VW) will be higher in the years 2025 and 2030?

VW almost certainly by 2030. Tesla are infrastructure constrained far more than VW are constrained. There’s also a much bigger market for cheaper/mainstream EV models than the premium models Tesla are focused on.

2025 will probably depend on a lot of factors, not least whether we are talking about VW Group (Audi, Porche, Skoda etc) or just the VW brand; and how much production capacity Tesla has by that point (probably around 1.5 million vehicles a year by their currently announced plan, but they may announce another factory with production by 2025.

Tesla’s 2025 production capacity is a complete unknown at this point, beyond very rough estimates based on CAGR. They aren’t planning capacities that far in the future. They haven’t even planned exact capacities for 2020 yet!

(Based on CAGR, a couple millions seems a fairly safe bet though.)

As Tesla ramps production to saturate demand in premium segments, they will continue coming up with more vehicles at lower price points. I don’t see them running out of market any time soon.

Nothing is certain about 2030. Shall the predictions come to pass that most people will give up private car ownership, traditional branding will become mostly irrelevant, while the market for cheap cars will disappear…

Going by recent announcements, VW group sales might be roughly in the same ballpark as Tesla in 2025. VW brand alone will almost certainly be less.

Trying to make predictions about 2030 seems futile…

When it comes to EVs, it seems “VW” means “VaporWare”.

You keep talking the talk, VW. Time to walk the walk. Actions speak louder that words, and when it comes to making EVs, your actions to date have been naught but the softest whisper.

I have to say that I have been blasting all of the legacy car makers for any real lack of action.
However, if VW really does invest 50B into EVs (and not just into R&D), then we will see REAL changes.
However, I continue to say that by 2022, that sales of none EVs cars will be over. Note that legacy car makers will continue to push them, but customers will NOT be stupid enough to buy them.

So what cars are people going to buy instead? Where are the 80 million EV’s coming from if established manufacturers aren’t making them in 3 years?

At $30,000 per vehicle, 50 billion spend equals 1.6 million vehicles.

That’s not how that works. That’s not how any of this works.

These are investments, not revenues.

(Though I suspect they are “cheating” by including the battery contracts in this figure, although these are actually marginal costs, not true investments…)

I’m interested in that Concept BUZZ (microbus) that had the Stockbroker’s Dashboard (4 video screens) that I could adjust the temperature of my home refrigerator while driving. You know, the one with supposedly 500 mile range and 400 hp drive motor when in actuality it could only go 25 mph and around 50 miles.

Maybe if they keep spending $50 Billion they’ll eventually get around to making it.

Step 1: Make the ID Buzz
Step 2: Actually sell the ID Buzz for a reasonable price
Step 3: Profit.

If the price was right, I could see it eating into Chrysler’s Caravan/Pacifica market share. Heck, I’d drive one if it was well priced and reliable.

It’s a very different class than Pacifica.

I expect the commercial van variant to be reasonably priced. Not sure about the consumer variant — being a lifestyle product, it’s quite likely to be seriously overpriced…

Not impressed. Tesla is already building over 4000 model 3 a week. VW is going to make 50 cars in 2025? Not even one cat a week?

50 models by 2025 right?

Let’s see, 0 models in 2019, 1 in 2020, 1 in 2021, 1 in 2022, 1 in 2023, 1 in 2024, and finally 45 models in 2025 (which should be available in the last week of December). Can’t wait for Christmas 2025!

50 more imaginary cars, wow now we have 60 in total, Go VW!

Normally one could say “trust, but verify” but this is VW, so it’s “they can’t be trusted, so verify twice.”

VW has quite a few brands to share the EV platform with, across many different products, so it should not be difficult to reach 50 models. I just wish the industry would be more accurate with their terminology as it relates to Hybrids, PHEV and BEV and avoid using the generic term of the electric vehicle when they tend to hide hybrids and PHEV models there. When many who buy PHEV never really plugin, so they are driving a hybrid most of the time.

what a joke.
They are saying that they are spending 50B which makes it sound like it is 50B for the next year on just EVs.
That is not true.
It turns out like typical VW, that they are spending 50B over the next 5 years on R&D, not just EVs.
IOW, trust VW’s CEO to lie.

Assume Tesla can produce 300k vehicles per year on existing lines in Nevada; and adds a model-Y line in 20 months which produces another 300k; and adds Gigafactory 3 in China ramping to 500k in 30 months. And adds Gigafactory-EU, ramping to 500k units in 4 years. So 4 years of incredible, aggressive, astounding growth could produce 1.6 million vehicles per year in 2023. That’s only about 2% of today’s global vehicle production. Even growing as fast as it has, it would take decades for Tesla to become a global-level car producer. VW group produces about 11 million per year. Could VW convert 6 factories in four years and produce more than 1.6 million by 2023? Right now, four years away seems like “forever,” but if VW did that, they could probably produce 1.5 million no-autopilot 7-second-0-60 EV-econoboxes per year in 2023. I think if Tesla wanted to become _the_ new major global car company, then they would actually need to kick-off construction of one new Gigafactory every four months, for ten years straight. That would yield more than 11 million vehicles per year in 2029. But Tesla is not able to borrow that kind of money. The idea that… Read more »