Volkswagen Group Announces 9 New Electric Vehicles For 2018

Germany Diesel investment

"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.

More news: US, EU Countries Discuss Fate of Iran Nuclear Deal

"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.

Related News:



Most liked

Bills Trade Glenn; move up in draft
The Bills had been looking to unload Glenn and the Bengals were in desperate need of an upgrade at the offensive tackle position. Glenn played just five games past year because of foot and ankle problems, so the Bills know how to play without him.

Shia LaBeouf Says Kanye West "Took All" His Clothes
He says he tried to reach out after that show, but that Ye is "going through a lot ". "I f**king love Kanye West ", he notes. Shia LaBeouf was a blockbuster star on the rise before a series of erratic public outbursts almost derailed his career.

Fmr. Cuomo Aide Joseph Percoco Found Guilty in Corruption Trial
He was convicted of two counts of conspiracy to commit honest services wire fraud and one count of soliciting bribes. Cuomo, in a statement, said he finds the verdict "personally painful" because he has known Percoco for a long time .

Confirmed: Claire Foy Was Paid Less Than Matt Smith on 'The Crown'
The producers also admitted that the transition into a more contemporary story is a minefield for them, as they risk offending their actual subjects.

Canada: Trump speaks to Trudeau over phone, stresses on fast NAFTA deal
Measures that have been put in place, he said, include tougher border controls to ensure proper monitoring of incoming products. ArcelorMittal Dofasco president Sean Donnelly said the industry is also anxious about Canada becoming a back door.

Modi at 'Delhi End TB Summit'
India will play a historic role in eradicating the disease which was affecting the poor mostly, he said. This is unedited, unformatted feed from the Press Trust of India wire.

American Idol 2018 Premiere Recap: Watch Audition Videos & Highlights
Perry's onscreen ensembles can only get better from here as we patiently wait for " American Idol " live shows. Thaddeus Johnson, Oklahoma City: He made it to Hollywood during Season 9 in 2010, but didn't go any further.

Final Fantasy 7 Remake Hiring to "Increase Quality"
Today, the Japanese publisher has commented on the game's current development state in a fresh job ad. Looking for new level planners is not a last-minute replacement, Square Enix adds.

ICE spokesperson resigns after refusing to perpetuate Trump administration's fake news
ICE said while they disagreed with Schwab's take on the issue, they wished him well. The former spokesperson, who has previously worked with the U.S.

A look back at the Storm of the Century, 25 years ago
The highest accumulation - around two feet of wet, heavy snow - is expected on the South Shore and parts of Cape Cod. Eversource and United Illuminating just restored most of the outages from Winter Storm Elsa, which hit last week .

Jimmy Graham to sign with Packers despite interest from Saints
NFL Network's Mike Garafolo, was quick to point out a new era in Green Bay has begun with their interest in Graham. He says that Graham is the top available free agent at the position and could be in the middle of a "bidding war".

Star Lotulelei plans to sign 5-year deal with Bills
Lotulelei played under Bills coach Sean McDermott from 2013 through 2016 when McDermott was the Panthers' defensive coordinator. Norwell's reported five-year, $66.5 million deal (with $30 million guaranteed) makes Norwell the highest-paid guard in the NFL.

Welcome back, "American Idol": Luke, Katy & Lionel find talent in four cities
Some American Idol spoiler lists originally included Lane Hardy in the Top 24, but not Dominique Posey. Just don't forget to cancel your trial if you don't want to get charged $20.

Positive hiring climate expected for Windsor area
Similarly, employers in the Services sector report a decline of three percentage points compared to the same period in 2017. Hiring confidence among Canadian employers has improved for four consecutive quarters, according to ManpowerGroup .

Apple's annual Worldwide Developers Conference begins June 4
The event is scheduled for June 4th through 8th and like a year ago , it will take place in San Jose's McEnery Convention Center. Apple today announced that WWDC will return to the McEnery Convention Center in San Jose , California from June 4 - 8, 2018 .