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March 05, 2021 05:56 AM

VW brand will accelerate electric vehicle shift

Battery-powered vehicles to account for 70% of European sales, 50% in U.S., China

Reuters
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    The ID5, based on the ID Crozz concept, will launch in Europe in the second half as part of VW's EV push.

    FRANKFURT -- Volkswagen brand plans to more than double the share full-electric vehicles will have in its European sales by 2030, in a bid to accelerate the automaker's shift toward battery-powered cars.

    Full-electric vehicles are expected to account for more than 70 percent of the brand's European vehicle sales by 2030, compared with a previous target of 35 percent, VW said on Friday as it unveiled its 'Accelerate' strategy.

    "With Accelerate we are increasing the speed on our path to a digital future," said Ralf Brandstaetter, who heads the VW brand and also sits on VW Group's management board.

    In the U.S. and China, the brand is targeting a market share of over 50 percent for full-electric vehicles by 2030, VW said, taking aim at rivals including Tesla to become the world's leader in electric vehicle production.

    "Of all the major manufacturers, Volkswagen has the best chance of winning the race. While competitors are still in the middle of the electric transformation, we are taking big steps toward digital transformation," Brandstaetter said.

    "In the coming years, we will change Volkswagen as never before," he said, adding that integrating data and software functions into cars would open up new sources of revenue.

    Following the launch this year of the Europe-only ID3 compact hatchback, the ID4 electric crossover is being rolled out this year, targeted at the U.S. and China.

    Other ID models will include the all-wheel-drive ID4 GTX in the first half, followed by the sporty ID5 in the second half. The ID6 X/Cross, a seven-seat electric SUV for the Chinese market, will be launched in autumn, VW said.

    VW said it is working on the next generation of an all-electric drive toolkit for flat vehicles called the Scalable Systems Platform. This will be deployed in 2026 for the first time in the Volkswagen’s flagship project, Trinity.

    The Trinity project is developing a VW brand flagship electric sedan that will be built in the automaker's home plant in Wolfsburg, Germany.

    FOCUS ON ELECTRIFICATION NEWSLETTER: A monthly wrap-up of the latest electric vehicle news, including interviews and global EV sales data, delivered to your inbox.

    VW said it had earmarked around 16 billion euros ($19 billion) for investment in the future trends of e-mobility, hybridization and digitalization up to 2025.

    VW Group had been a laggard on electrification until it admitted in 2015 to cheating on U.S. diesel emissions tests and had to deal with new Chinese quotas for electric vehicles.

    This prompted a strategic shift to zero-emission and self-driving technology, and it now has one of the most ambitious programs in the industry.

    Automakers are also racing to develop electric vehicles to meet tighter CO2 emissions targets in Europe and this week Volvo joined a growing number of automakers including Jaguar, Ford of Europe and Jaguar aiming for a fully-electric line-up by 2030 or before.

    Stellantis, the product of the merger between Fiat Chrysler Automobiles and PSA Group, plans to have fully-electric or hybrid versions of all of its vehicles available in Europe by 2025.

    Automotive News Europe contributed to this report

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