Volkswagen set 80 new EV models for 2025

Volkswagen on Monday said it will launch 80 new EV car models across the brand group by 2025 or up from its previous target of 30 models. The company also invested more than 20 billion euros (US$24 billion) to explore the market in an attempt to compete Tesla projected to dominate the future automotive market.

Tinuku Volkswagen set 80 new EV models for 2025

The automotive giant based in Wolfsburg says it will increase its transformation towards electric cars and has plans to invest more than 20 billion euros for zero emissions vehicles by 2025 in an effort to seize the future market.

The "dieselgate" scandal has put pressure on automakers to accelerate the development of environmentally friendly vehicles and encourage a strategic shift in the company to drive major advances in batteries and global fight against pollution.

China as the world's largest auto market is scheduling time to ban the production of combustion engine vehicles, but a top official at the ministry said the year 2025 is a difficult time for auto manufacturers if it does not immediately turn to EV vehicles.

Volkswagen says "Roadmap E" has begun tender process to select partners in China, Europe and North America to provide battery cells and related technologies more than 50 billion euros. Tesla in January started mass production of lithium-ion battery cells in Nevada.

"A company like Volkswagen should lead, not followers. We are setting the scene for the ultimate breakthrough for e-mobility," said Chief Executive Matthias Mueller.

Volkswagen I.D. variant will upscale Tesla model 3 at a new US$35,000 to seize the mass market. Daimler on Monday said Mercedes-Benz is prepared to create EV drivers for all models by 2022.

BMW, which unveiled the i3 model, also said on Thursday it has been preparing the plant to mass-produce electric vehicles by 2020 and pledged to have 12 all-electric models by 2025. Jaguar Land Rover by 2020 and Volvo is more revolutionary and will completely stop the production of fossil-fueled engines on 2019.