VW increases EV targets by 50%

Volkswagen has announced plans to build 22 million electric vehicles over the next ten years, increasing its previous EV targets by seven million units.

Almost 70 new EVs will be launched in the next ten years, up from the 50 initially planned, and the firm as set itself CO2 emissions targets based on those from the Paris Agreement.

Key to this is the company's development of its MEB platform, a modular architecture designed specifically for electric powertrain components. VW's growth to a global giant has largely relied on its cross-brand parts sharing with a large number of VW Group models built on just a handful of platforms.

The same plans are being put in place for the company's electric offensive, and VW has even said that it is open to licensing MEB components to other manufacturers, such as Ford. This has the potential to lower costs and accelerate development cycles.

VW points to its part in the pan-European ultra-rapid Ionity EV charging network as a signal that it's EV push is well under way. I also pointed out that the first wave of EVs - including the newly launched Audi e-tron - are due in the next year or so, from VW, Audi, Porsche, Seat, and Skoda.

The key driver behind these moves - beyond a shift from the company's Dieselgate scandal - is CO2 emissions reductions. By 2025, the CO2 footprint of VW's fleet is expected to be 30% of that from 2015, with 30 billion euros invested in electric vehicles to help these ends by 2023.

VW's EV fleet share is expected to rise to 40% by 2030, CO2 emissions at all plants are to be cut 50% by 2025 compared to 2010 levels, and VW aims to be CO2-neutral in all areas by 2050.

"We are aligning Volkswagen with e-mobility like no other company in our industry," said Dr Herbert Diess, CEO of Volkswagen AG. "Volkswagen will change radically. I think this has become clear over the last few weeks and months. Some of you may still be rubbing your eyes in amazement. But, make no mistake – the supertanker is picking up speed"

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Chris Lilly

Author:Chris Lilly
Date Updated:13th Mar 2019

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