Volkswagen Group Announces 9 New Electric Vehicles For 2018

GETTYDiesel cars could be banned across Europe after Germany ruling

"We have pulled out all the stops over the past months to implement the Roadmap E swiftly and resolutely", Chief Executive Matthias Mueller said at a news conference, referring to the electric vehicle (EV) programme.

The Volkswagen Group is driving forward with the transformation to e-mobility and announced that it will be producing battery powered vehicles in 16 locations around the globe by the end of 2022.

Mr Mueller, speaking at the company's annual news conference in Berlin on Tuesday, gave an upbeat view after last year's record sales of 10.7 million vehicles.

As we discussed in the latest episode of the Electrek Podcast, Volkswagen's electric auto efforts mostly consist of press releases and concept vehicles at this time, but they seem quite serious about it based on their investments.

The near-term plan includes nine new vehicles, three of which will be purely battery powered, to arrive in showrooms before the end of 2018.

Volkswagen VOWG_p.DE has selected partners to provide battery cells and related technology worth around 20 billion euros (17.75 billion pounds) for electric-vehicle (EV) projects in Europe and China, pushing ahead with a shift to zero-emission cars. So far the company has yet to decide on a supplier for North America.

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"This is how we intend to offer the largest fleet of electric vehicles in the world, across all brands and regions, in just a few years", says Müller.

It doesn't mean that VW is going all-electric though.

Witter said that the group's financial position was solid, despite the challenge posed by expenditure on the diesel scandal. Yet, Muller said electrification does not mean the firm is moving away completely from conventional technologies. "We are putting nearly Euro 20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than Euro 90 billion scheduled over the next five years".

Separately, the German carmaker reiterated guidance for higher vehicle sales and revenue this year and for a group operating margin of 6.5-7.5 percent after 7.4 percent last year.

Fallout from the scandal cost it 3.2 billion euros last year, it said in February, but did not hold it back from booking 11.4 billion euros in profit - around the same level as the year before "dieselgate" became public.

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