The Volkswagen Group is planning to make fully electric and plug-in hybrid variants of all 300 of its models by 2030.
The German automaker plans to invest more than £18 bn pounds into the venture for zero-emission cars, with 80 new-electrified models by 2025 – 30 of which will be plug-in hybrids and 50 pure electric models.
Matthias Müller, Chairman of the Board of Management of Volkswagen said: “We have got the message and we will deliver. This is not some vague declaration of intent. It is a strong self-commitment, which, from today, becomes the yardstick by which we measure our performance.
“The transformation in our industry is unstoppable. And we will lead that transformation.”
This latest automotive initiative is one of the biggest in the industry following the announcement of the ban on all combustion-powered cars in the UK by 2040.
It also follows Shell announcing it will begin installing electric car charging points in the UK this month.
The VW group announced it is “addressing” the issue of battery technology with the development of what it terms a ‘long-term strategy’ to the issue of battery range.
It also claims that by 2025 it will need more than 150 gigawatt hours of ion batteries to power its own fleet alone.
Müller added: “For us, the transformation of transportation and the energy transition are inseparable. And creating a comprehensive charging infrastructure rapidly – in cities and on highways – will be critical to success.
“In Europe, and particularly in the automotive stronghold of Germany, much more needs to be done. Only then will customers’ trust grow. And only then will electric cars come out of the niche – and achieve relevant market share in years to come.
“I’m convinced this will succeed if politicians, the energy industry and automakers work in harness.”