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Electric auto sales in Germany finally start to soar: Tesla leads

17 March 2018

Over the past two years, German carmakers Volkswagen, Daimler and BMW announced 4.7 billion euros (R68bn) of investment worldwide in electric cars, the study by consultancy EY found.

Volkswagen will expand electric vehicle production to 16 plants and widen partnerships with battery makers as the German automaker seeks to hit its sales target of 3 million electric cars a year by 2025.

The company revealed that it is also developing as many as 80 new electric cars, which it hopes to launch by 2025.

He also confirmed every single one of the Group's 300 models would have an electric variant by 2030, though in many cases this would be just a plug-in hybrid.

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.

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"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.

Volkswagen plans to launch the first full MEB vehicle, the I.D. hatch, in 2020 as the leader for an entire I.D.

Europe's largest automobile manufacturer Volkswagen Group on Tuesday said it was rapidly expanding its capacity to produce battery-powered vehicles and would equip 16 locations across the globe to do that by 2022. Volkswagen has already awarded 20 billion euros ($25 billion) in contracts to secure battery supplies in Europe and China, partnering with manufacturers such as Samsung and LG.

Volkswagen has selected partners to provide battery cells and associated technology worth around 20 billion euros ($25 billion) for its growing electric vehicle program, including additional pressure on US pioneer Tesla. Ford Motor (F) will launch 13 electric models over the next several years.

However, the company chief clarified that there would be no change in the production of vehicles running on conventional drive systems.

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Despite pressure from its workers, Volkswagen has decided it prefers to buy batteries from outside suppliers rather than make them itself.

It plans to pay for all this EV extravagance by slashing costs in other areas of development.

Tesla is assuredly anxious at the moves Volkswagen is making as this will of course help drive cobalt prices globally and on a broader scale signals just how serious the Volkswagen group has become about electric vehicles.

The main takeaway from this bit of news is that VW must be at least somewhat anxious about the future supply of batteries if its willing to tie up $25 billion in raw material and parts costs all for models that are still years away from production.

Roadmap E is VW's overall plan to push into the global electric vehicle business. The first MEB-produced model should come in 2020.

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Electric auto sales in Germany finally start to soar: Tesla leads