QR.bizNewsVolkswagen to produce electric version of each vehicle by 2030

Volkswagen to produce electric version of each vehicle by 2030

And only then will electric cars come out of the niche - and achieve relevant market share in years to come.

The German brand has revealed that the all-electric model will enter production in 2020 and has a vital role to play in VW's Strategy 2025 electric vehicle offensive.

Volkswagen (VW) said it was seeking new global supplier contracts to source 50 billion euros of electric auto content including batteries, which are not yet manufactured competitively in Europe.

As per the company's estimate, in the coming years, about one in four vehicles from the group will either be an electric vehicle or a plug-in hybrid.

"We have got the message and we will deliver. The transformation of our industry is unstoppable and we will lead it by redefining mobility to be cleaner and better".

Mr Zetsche said Mercedes-Benz has sold more cars with diesel engines so far this year than in the same period last year, despite talk of possible diesel bans in some German cities. Diesel, meanwhile, was a convenient choice because it generated peppy acceleration while emitting about a fifth less Carbon dioxide than comparable gasoline engines. VW claims a range of over 500km and Volkswagen says it intends to limit the production version's top speed to 180kph.

While many automakers are planning ambitious electrification efforts, VW may face the biggest challenge.

The world is shifting toward electric vehicles, but it's proving to be a gradual process. Mueller said the company would await firm commitments before reacting.

The Wolfsburg-based group owns a stable of 12 brands ranging from VW, Seat and Skoda to Audi (IOB: 0FG8.IL - news), Bentley and Lamborghini - as well as truck and bus makers MAN (Swiss: MAN.SW - news) and Scania and Ducati motorbikes. The former is roughly Golf-sized and will compete with the Chevy Bolt and Tesla Model 3. But the 12 brands under the VW Group umbrella collectively sell many more cars than either Sweden's Volvo or Britain's Jag, so we are still talking about an terrible lot of EVs.

"Financially we're very robust", Mueller said in a Bloomberg TV interview.

On Thursday, BMW, which launched its electric auto i3 during 2013, said it was preparing factories to mass produce its electric vehicles before the end of 2020, and it pledged to have 12 100% battery power vehicles available by 2025.

VW pledges to be all electric by 2030

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