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Volkswagen Accelerates Electric Car Plans

By Fabrice Pierre-Toussaint

Contributing Writer for Telegraph Local | See my LinkedIn

 

 

 Volkswagen who is already one of the most headstrong automakers when it comes to electrification, announced that it is accelerating its electric car plans and now aims for 1.5 million electric vehicles in 2025. According to electrek, with the latest developments, VW now expects to reach this goal in 2023. Thomas Ulbrich, Member of the Volkswagen brand Board of Management responsible for E-Mobility, commented on the updated target: “2020 will be a key year for the transformation of Volkswagen. With the market launch of the ID.3 and other attractive models in the ID. family, our electric offensive will also become visible on the roads. Our new overall plan for 1.5 electric cars in 2025 shows that people want climate-friendly individual mobility – and we are making it affordable for millions of people.”

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In September, Volkswagen introduced its new all-electric ID.3 sedan, along with a plan to have the car on the road by the summer of 2020. The ID.3 is based on Volkswagen’s Modular Electric Drive Toolkit (MEB) and offers ranges from 330 to 550 kilometers (about 200 to 340 miles). The basic version of the ID.3 will cost less than €30,000 (around $33,500). VW also offered pre-booking for the ID.3. To date, over 37,000 customers have reserved an ID.3 and paid a pre-booking deposit, according to the company. Their investment program in electric vehicles totaled around $36 billion. According to marketwatch, on Thursday, the company announced a mobile charging system that uses robots to deliver a mobile storage device to a parked car, connects the device to the car, leaves to deliver another device to another vehicle, and returns once the mobile storage device has finished charging the first car to haul the charger away. The company has also opened its modular drive system, the MEB, to other carmakers. Ford Motor Co. will use the MEB to build and sell vehicles in Europe. Ford will be among the first automakers, if not the first, to build vehicles on the MEB platform.

Tesla Motors announced plans to build a fourth Gigafactory in Germany beginning next year with finished vehicles rolling off the line in 2021. Tesla is expected to build its Model Y crossover vehicle at the plant with an annual production goal of 150,000 vehicles a year. According to Financial Times, consumers are shunning diesel in favour of petrol, and switching to heavier sports utility vehicles. The result is that, since 2017, CO2 emissions from cars have been rising across the EU. For Europe’s carmakers, an industry that supports close to 14 million jobs, the change also has profound, business-shifting implications. 

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The higher input costs of electric vehicles mean they make less profit than “traditional” ones  if they make any at all leaving car makers with less money to funnel into new models. Meanwhile, regarding this announcement from Volkswagen, their stock has been rising. There will be 70 new fully electric VW’s by 2028. The company will have those manufacturing plants in both Europe, Asia and the United States.

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