At news conference at company headquarters in Wolfsburg, Germany, the company announced its goal to build 22 million battery electric cars.
In response, and to afford the €44 billion of investments planned by 2023, "we will have to make progress on efficiency and performance in all areas", CEO Herbert Diess said. Reservations for each of these models already total 20,000 units, the automaker said.
However, the Volkswagen is taking major risk by planning such a big move because the company doesn't know how many buyers will want these electric cars.
"We will be systematically aligning production and other stages in the value chain to Carbon dioxide neutrality in the coming years", said Diess, who added that by doing so it was doing its part in tackling climate change. That is how we will be making our contribution towards limiting global warming. So far we are at 13 announced models.
"Volkswagen is seeking to provide individual mobility for millions of people for years to come - individual mobility that is safer, cleaner and fully connected". Exact timing is yet to be confirmed.
The electric version of VW's iconic Kombi camper, the Buzz.
Uber self-driving division may receive $1B investment led by SoftBank
For the record, Uber has been exploring a deal with outside investors for its self-driving business since 2018. Lyft filed its own prospectus on March 1 and is expected to debut in the public stock market later this month.
The ID.is the first of the ID. family to be released by Volkswagen, while the second model - the Crozz SUV - is expected to arrive on the market in 2020.
Currently, Volkswagen offers a number of plug-in hybrid-electric cars. while it offers limited BEVs including the limited-range VW e-Golf.
"Absolutely, we are definitely in interested in bringing EVs to Australia", he tells The Driven.
Volkswagen has made it clear its future is largely electrified, but additional context on their electrification plans continue to trickle out.
Volkswagen will slash jobs as it accelerates the rollout of less labor-intensive electric cars and will evaluate its sprawling portfolio of brands as it battles to reverse a slide in profit margins, the German automaker stated on Tuesday.