VW Confirms 3 New EVs For 2018, SEDRIC Concept To Enter Production

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VW Group to reach 10.7 million sales for 2017 – report

Mueller, speaking at the company's annual news conference in Berlin, gave an upbeat view after last year's record sales of 10.7 million vehicles.

Volkswagen said Tuesday it has committed to spending billions of dollars on electric vehicle batteries, as the German automobile giant plans to aggressively boost production globally.

And, as well as increasing the number of locations where battery powered vehicles will be manufactured from the current three, to 16, the carmaker has also secured battery deals for Europe and China worth €20 billion. Another nine new vehicles, three of which will be purely electric vehicles, will be added to the Group's electric portfolio of eight e-cars and plug-in hybrids. To hit that target Bloomberg reported that the manufacturer plans a brisk pace, rolling out a new electric model almost every month starting in 2019.

Despite the fact that Volkswagen is still hurting financially from the emissions scandal, it claims that it wil spend an estimated €34 billion on developing its own electric vehicle technology.

Taken together the investments should help Volkswagen produce its planned 3 million electric cars a year by 2025.

"This is how we intend to offer the largest fleet of electric vehicles in the world, across all brands and regions, in just a few years", says Müller.

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He added that a third of the auto maker's nine new vehicles for 218, will be 100% electric powered.

"Over the last few months, we have pulled out all the stops to implement "Roadmap E" with the necessary speed and determination".

In the longer term, the Group's pure BEVs would all sit upon one of two purpose-designed architectures. In the interim, the e-Golf sits on a converted version of Volkswagen's standard-issue MQB architecture, while early Porsche BEVs will use its J1 architecture and the first Audi BEVS will sit on the C-BEV underpinnings. The Group now produces electric vehicles at three locations, and in two years' time a further nine Group plants are scheduled to be equipped for this objective. According to previous reports, North America's first I.D. -badged vehicle will likely be a crossover SUV.

A newly unveiled concept auto promises a self-driving EV with a 400-mile range, joining VW's I.D. family of electrified vehicles.

It plans to pay for all this EV extravagance by slashing costs in other areas of development. Capex/sales revenue was also lowered significantly to 6.4% from 6.9%.

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