What’s one way to avoid major emissions-cheating scandals? Make cars that don’t run on fuel: As part of the company’s previously announced plan make up for Dieslgate by focusing on electric cars, Volkswagen says it’ll build electric versions of all 300 models it offers by 2030.
Ahead of the International Motor Show in Frankfurt, Germany, the company said it will be investing €6 billion in electric mobility over the next five years. For starters, VW announced a new electric concept vehicle — dubbed the I.D. CROZZ — which won’t hit the market until 2022.
By 2025, VW plans to roll out 80 new electric cars — up from its previous goal of 30 — and by 2030, the company’s CEO says it’ll have an electric version of all its cars. VW says it’s willing to plug a further €20 billion into that effort, as well as €50 billion more to buy the batteries needed to power the cars, Bloomberg reports.
“Customers want clean vehicles. People want to have clean air, and we want to make our contribution here,” CEO Matthias Mueller told BBC News at the auto show.
Despite expenses related to Dieselgate over the last few years, Mueller says the company won’t have to sell any assets to fund its electric car efforts.
Although we have suffered financially in the past two years because of the diesel issue, we are positioned well enough in financial terms to be able to shoulder these investments without problems,” he told Reuters.
It’ll take some time for VW to go beyond combustion engines, as the infrastructure needed for electric vehicles needs to catch up first.
“There will be a coexistence between internal combustion engines and electric drive systems for a certain period — I can’t tell you how long that will be,” Mueller told the BBC.