Volkswagen is no stranger to electric cars, in fact, their journey towards electrification started all the way in 1976 when it produced one Rabbit with a 20 horsepower DC electric motor and a pile of lead acid batteries. Since then the German automaker had made leaps and bounds towards its journey, with the first of its highly anticipated ID line of all-electric cars and SUVs beginning to arrive.
Volkswagen is on record saying by 2029 it will have 75 different EVs readily available for purchase as it expects electric cars to account for 20 percent of its total sales by 2025. The German automaker has also stated, with this second wave of MEB-based model, we can expect expects price parity between its ICE vehicles and EVs.
Now, we are learning of Volkswagen’s next big step in its future electric plans with an investment of $86 billion over the next 5 years in e-mobility, hybrid tech, and digitalization, with $41 billion alone going towards battery-electric cars.
VW also touched on its previous plan with a few slight revisions. The VW Group now plans to launch 70 fully electric vehicles by 2030, 20 of which are already in production putting The Group way ahead of schedule.
The board approved the VW’s Group’s new five-year plan cycle this week. Volkswagen estimates that it will produce around 26 million all-electric models this decade, 19 million of which will be on the MEB platform.
Herbert Diess, CEO of Volkswagen Group, spoke about the announcement: “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.”
Of course the massive brand has all the necessary tools and finances to make it, but is it enough to push them to become a global leader in the electric vehicle segment?