‘Mission E’ Becomes A Global Passenger Car Electrification Initiative
Below is an excerpt from yesterday’s press conference during the annual Volkswagen shareholder’s meeting. The excerpt is focused on the expansion of Porsche’s ‘Mission E’ initiative to a global proclamation than spans all of the company’s holdings.
Electrification initiative with more than 30 fully electric cars by 2025
In Strategy 2025, the Group is undertaking an electrification initiative that is “second to none in the industry.” Nonetheless, the combustion engine remains important: “It will be with us for some time to come and will still account for around two-thirds of the new vehicles market volumes in 2030. But that also means the other third will be electrically powered. The breakthrough for e-mobility will long be reality by then. And we are determined to make e-mobility a new hallmark of Volkswagen.”
The Volkswagen Group is going to launch over 30 fully electric new vehicles by 2025. “We expect that by then we will be selling about 2 to 3 million pure-electric automobiles a year. This will account for a significant share — an estimated 25 percent — of our total sales volume. We are stepping up our efforts accordingly and will launch a multi-billion euro investment program,“ Müller declared.
Autonomous driving and battery technology to become core competencies
Autonomous driving is another key issue in the transformation of core business. The Company’s aspiration is to serve all relevant segments, with autonomous vehicle concepts for private transport as well as last-mile solutions for shifting people and freight in major cities. Matthias Müller went on to say: “Fully autonomous vehicles with a self-driving system developed in-house will enter the market by the beginning of the next decade. Cumulative investment in new autonomous mobility solutions will amount to several billion euros.”
A similar goal is being pursued in another initiative: establishing battery technology as one of the Volkswagen Group’s core competencies. This technology is the key to e-mobility. It accounts for 20 to 30 percent of value-added for fully electric vehicles. “We will need 150 gigawatt hours of battery capacity by 2025 for our own e-fleet alone — which would make for a massive procurement volume,” the CEO explained.
The economic importance of this issue is plain to see. And the technological expertise will certainly be a good fit with the Volkswagen Group. Müller pointed out: “We will examine in detail all strategic options for developing battery technology as a new core competency for the Volkswagen Group. In doing so, we will be scrutinizing the entire process chain — from raw material right through to battery production.”
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