The future of the automotive industry lies with Electric Mobility. By 2025, a majority of global automotive makers will switch to making only electric passenger and commercial vehicles. In their recent investment roadmap for the future, the Volkswagen Group has set aside close to US$36 billion for electric mobility alone. In addition, the company also intends to push for investments into future technologies such as digitalization and hybridization in the next five years.
The Future of Mobility is Electric and Hybdrized
Volkswagen will come out with 75 all-electric car models, and 60-odd hybrid versions. The automaker projects selling 26 million e-cars by 2029, and around 6 million hybrid vehicles by the end of the next decade. Almost every model of the e-vehicles is scheduled to be made outside Germany by the company’s plants in Mlada Boleslav, Chattanooga, Foshan, and Anting. Others will be produced by German plants in Zwickau, Emden, Hannover, Zuffenhausen and Dresden.
The car company will start making and assembling electric A-SUV (ID.Next) by 2022. The model is slated for exhibition at this year’s Internationale Automobil-Ausstellung (IAA).
At the time of this announcement, Hans Dieter Pötsch, Chairman of the Supervisory Board of the Volkswagen Group stated –
“We are resolutely pressing ahead with the transformation of the Volkswagen Group and focusing our investments on the future of mobility. This is part of our systematic and consequent implementation of the Group’s strategy.”
Herbert Diess, Chief Executive Officer of the Volkswagen Group added,
“We will step up the pace again in the coming years with our investments. Hybridization, electrification and digitalization of our fleet are becoming an increasingly important area of focus. We intend to take advantage of economies of scale and achieve maximum synergies. In light of the worsening economic situation, we are also working on increasing our productivity, our efficiency and our cost base so as to secure meeting our targets.”
The Volkswagen Group is already firm about developing and supplying the electric drives for MEB vehicles for Europe and North America from their Kassel plant. The Kassel site will produce 500,000 units per year as planned. This site, in close synergy with the Chinese plant in Tianjin, will create around 1.4 million electric drives each year from 2023 onwards. By 2025, the Volkswagen Group Components will become one of the largest global manufacturers of electric vehicle-drives in the future.
In October, the carmaker saw a steady increase in its sales worldwide, delivering 562,200 vehicles. As per the sales records, Volkswagen’s SUV segment proved to be a successful category worldwide.