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Volkswagen Group to invest approximately €10B in powertrain technologies over the next five years; targeting Nº 1 in e-mobility by 2022

The Volkswagen Group has invested some €3 billion (US$3.3 billion) in alternative drive technologies over the past five years and will triple this amount in the course of the next five years, said Matthias Müller, CEO of Volkswagen AG, at the Group’s Annual General Meeting in Hanover.

The future is electric. We intend to be the Nº 1 in e-mobility by 2025,” said Müller at the meeting. At the same time, the Volkswagen Group is continuing to develop diesel and gasoline engines, targeting making them a further 10 to 15 percent more efficient and cleaner by 2020. “Diesel,” said Müller, “will remain indispensable for the foreseeable future.” In total, the Volkswagen Group will be investing around €10 billion (US$10.9 billion) in these technologies by 2022.

In order to provide affordable, sustainable mobility on a large scale we will continue to deploy the complete spectrum of drive types: from conventional to fully electric.

—Matthias Müller

The Volkswagen Group will introduce more than 10 new electrified models by the end of 2018, Müller said. By 2025, the Group will and more than 30 more BEVs.The newly-established Center of Excellence in Salzgitter will bundle Group-wide competence in battery cells and modules. At the same time, the Group is negotiating partnerships in the field of battery cells in Europe and China.

Müller also highlighted how the realignment of the Group from an automaker into a globally leading mobility provider was gaining a foothold, citing further initiatives.

A central element of the program for the future is partnerships to develop new business opportunities or advance new technologies. Müller referred to several examples such as the plans to enter the economy segment with Tata, the envisaged joint venture with JAC in China to develop attractively-priced electric cars, and numerous cooperation projects in the field of mobility services.

Building great cars is no longer enough. Today’s customers expect more with regard to mobility. And these new customer requirements also mean that we need to change.

—Matthias Müller

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