VW assigns 20 billion euros in battery orders, speeds EV push

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When it launched Roadmap E in Europe in the third quarter of past year, the Volkswagen Group projected it would deliver 80 new EVs from two EV architectures.

Europe's largest automaker will expand production of electric cars to 16 factories worldwide through the end of 2022, it said on Tuesday.

Volkswagen's CEO Matthais Müller announced the details of its plans to extend its green credentials at the company's annual media conference in Berlin.

The Volkswagen Group plans to have electric cars wearing all 12 of its automotive brands, plus its Volkswagen Commercial operation and its trucking companies, MAN and Scania.


Volkswagen now produces electric vehicles at three locations, and in two years' time a further nine Group plants are scheduled to be equipped for this goal.

"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 VW's earnings news conference.

Müller today admitted it had found space for another nine electrically powered cars, including three more pure BEVs.

Experts see VW's repeated emphasis on this front as a means of getting rid of the stigma of "dieselgate" of 2015 that has continually haunted the firm.


To ensure adequate battery capacity for this massive expansion, the company has already agreed to partnerships with battery manufacturers for Europe and China and has awarded contracts for a total volume of around Euro 20 billion. Yet, Muller said electrification does not mean the firm is moving away completely from conventional technologies.

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.

The Volkswagen Group says that it has the financial resources for the transformation. The company also plans to invest more than €90 ($111.6) billion in conventional vehicles over the course of the next five years.

Separately, the German carmaker reiterated guidance for higher vehicle sales and revenue this year as well as a group return on sales of 6.5 to 7.5 percent before special items, compared with 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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