Volkswagen to spend 60 billion euro in e-mobility, digital tech by 2024

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Volkswagen plans to invest 60 billion euros ($66.12 billion) by 2024 to develop electric and hybrid cars along with digital technologies, the automaker stated on Friday. Volkswagen prepares to build 75 variants of electric cars and around 60 hybrid vehicle models, it stated. By 2029 around 26 million electric cars will be constructed, of which […]

Volkswagen starts factory production of electric car which is ‘accessible to millions’

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The Volkswagen Group formally started series production of its ID.3 electric car this week, with the automaker aiming to become a world leader in the developing field of e-mobility. A ceremony, held at Volkswagen’s Zwickau plant, was visited by CEO Herbert Diess and German Chancellor Angela Merkel, as well as others. In a speech, excerpts […]

Volkswagen pushes battery partners to construct Gigafactories

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Volkswagen is pushing its joint venture partners consisting of SK Innovation (SKI) to construct electric car battery plants which have at least one Gigawatt manufacturing capacity, CEO Herbert Diess informed Reuters. “Anything below that amount would make little sense,” Diess stated on the sidelines of the Shanghai Auto Show on Sunday. Volkswagen will purchase 50 […]

Volvo expects electric car margins to match conventional cars next decade

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Volvo expects its margins on electric cars to find similarity with those of vehicles with combustion engines by 2025. Global automakers are preparing a $300 billion surge in spending on electric vehicle technology for the next five to one decade but have admitted that higher component expenses and limited take-up in initial years will impact […]

Volkswagen signs e.GO Mobile as first partner for production platform

e.GO mobile

Volkswagen has signed German start-up e.GO Mobile as the initial external partner for its modular platform for electric vehicles (EV), as it looks to simplify production throughout a variety of models. The partner will utilize VW’s so-called MEB production system to “bring e-vehicles to market that complement Volkswagen’s model offering,” the automaker stated. A particular […]

Volkswagen expects to be the most profitable electric automaker

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Volkswagen CEO Herbert Diess on Friday stated he expected the multi-brand automaking group to be the most profitable manufacturer of electric cars due to economies of scale. Even first generation vehicles, which start presenting production lines next year, are expected to make a positive impact to Volkswagen Group’s automotive margin, Diess stated. Diess further said […]

Volkswagen plans to sell electric Tesla rival for less than $23,000

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Volkswagen intends to sell electric vehicles for less than 20,000 euros ($22,836) and safeguard German jobs by converting three factories to make Tesla competitors, a source familiar with the plans stated. Volkswagen and other automakers are having hard time to adapt quickly enough to strict rules introduced after the automaker was discovered to have cheated […]

Volkswagen assigns $25 billion in battery orders for electric vehicles

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Volkswagen has selected partners to provide battery cells and associated technology worth around 20 billion euros ($25 billion) for its growing electric vehicle program, including additional pressure on U.S. pioneer Tesla. Till its “dieselgate” emissions scandal was revealed two and a half years earlier, Europe’s largest automaker had been slow to welcome electric vehicles. But […]