Volkswagen assigns €20 billion in battery orders, speeds EV push

An agreement to toughen up EU legislation and regulations surrounding vehicle emissions designed to ensure that another ‘dieselgate’ scandal can never re-occur is being held up by the German government which wants more time to agree a compromise

Roadmap E was announced a year ago to speed up the pace of electrification of VW Group products across brands including Audi, Porsche, Skoda and Volkswagen, and premium brands including Bentley and Lamborghini.

Müller today admitted it had found space for another nine electrically powered cars, including three more pure BEVs. This will add to the group's eight existing electric and plug-in hybrid models. Its new program includes launching of three new vehicle models this year with a succession of dozens of more models.

The world's largest carmaker will equip 16 factories to produce electric vehicles by the end of 2022, compared with three now, Volkswagen said Tuesday in Berlin.

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 USA pioneer Tesla.

Müller was speaking at Volkswagen's annual media conference in Berlin, Germany, where Chief Financial Officer Frank Witter also outlined the firm's fiscal health despite the loss of billions through the emissions scandal.

2018 will see the launch of the first "I.D." branded VW model.

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Audi's E-Tron SUV will lead the next-generation rollout by launching later this year as a production auto - and is in a race with Jaguar to launch the first European BEV in the segment.

Following the diesel emissions testing scandal in the US two years ago, VW vowed to focus on electric cars.

To accommodate production, Müller said the company will adapt nine production sites to handle electric-vehicle production. Volkswagen added that it is now looking for suppliers in North America.

"We are making massive investments in the mobility of tomorrow, but without neglecting current technologies and vehicles that will continue to play an important role for decades to come", said Muller. "We are putting nearly €20 billion ($A32 billion) into our conventional vehicle and drive portfolio in 2018, with a total of more than €90 billion scheduled over the next five years".

While the entire world automobile market is thriving towards zero emission pure electric mobility, Volkswagen has its own reason to do so.

At the same time, however, the Wolfsburg-based group will pump more than 90 billion euros into traditional diesel, petrol and natural gas motors, with a new generation of internal combustion engines set for release next year. Famed investor Mark Cuban says it will produce "the world's first trillionaires", but that should still leave plenty of money for regular investors who make the right trades early.

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