One of the highlights of Volkswagen's 2019 Annual Media Conference was the announcement that the VW Group is planning to launch nearly 70 new electric models in the next ten years instead of the 50 that were previously planned.
Frankfurt am Main (AFP) - German automaker Volkswagen said it would eliminate up to 7,000 jobs by 2023 as it seeks to accelerate its transition to electric vehicles, although the cuts should be achieved via retirement offers.
"In order to shoulder the investments needed for the electric offensive we must make further improvements in efficiency and performance in all areas", said Diess in the statement. Most other carmakers that lack VW's capacity have opted to build electric vehicles that work in conjunction with their now combustion models.
Ford is also considering using VW's electric-car technology, dubbed MEB, in Europe or China, Diess said. It has an interim 2025 goal to reduce its carbon footprint by 30 percent across the lifecycle compared to 2015 amounts.
The electric version of VW’s iconic Kombi camper the Buzz. Source VW
In an attempt to become one of the largest electric vehicle manufacturers in the world, Volkswagen AG has announced that it will be increasing its electric vehicle target by as much as 50 percent in the coming years.
"The targets of the Paris Agreement are our yardstick". That is how we will be making our contribution towards limiting global warming.
Transitioning to a fully electric production line will likely be an expensive endeavor for the company. It looks like we'll have to wait several months to see the new vehicle, however, and sales aren't expected until next year. Even then, we will have to wait to see if they can create/convert 70 electric models within these 10 years.
Last year, "pressure on our profit margins grew, not least because of electric mobility", Volkswagen finance chief Frank Witter told business daily Handelsblatt. Let us know down in the comment below.
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