| 3:27 PM EST

VW Charts More Aggressive Electrification Course

Volkswagen AG plans to launch more than 80 electric and hybrid vehicles across its eight car brands by 2025 and expects to offer an electrified version of each of its 300 group models by 2030.
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Volkswagen AG plans to launch more than 80 electric and hybrid vehicles across its eight car brands by 2025 and expects to offer an electrified version of each of its 300 group models by 2030.

Announced ahead of the Frankfurt auto show on Monday, the new “Roadmap E” initiative calls for spending €20 billion ($24 billion) on electrified vehicles by 2030. VW previously had pledged to invest $12 billion to bring 30 EVs and hybrids to market by 2025.

The revised target includes 50 EVs and 30 plug-in hybrid models, starting with the I.D electric sedan in 2020. About 25% of the vehicles sold across VW Group brands could be full EVs by 2025, totaling as many 3 million units, the company estimates.

The €20 billion investment will go toward developing two all-new dedicated EV platforms, upgrading plants and training workers, expanding the charging infrastructure and enhancing battery technology and production capabilities. VW estimates its EV and hybrid fleet will require more than 150-gWh of lithium-ion battery capacity per year by 2025.

In addition, the carmaker is asking suppliers in China, Europe and North America to bid on long-term contracts to provide battery cells and related technology. The company expects to award contracts totaling about €50 billion ($60 billion), which it describes as one of the largest purchasing programs in the auto industry.

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