VW set to "accelerate" shift to electric vehicles

Volkswagen has announced it will be pushing to release a new EV brand each year until 2030, by which point it hopes 70% of its cars sold in Europe will be fully-electric, doubling their original plans for the end of the decade.

The automaker's brand CEO Ralf Brandstätter announced its new strategy at a virtual conference on Wednesday, where he promised that in the coming years, "we will change Volkswagen as never before."

Read more: VW closes 2020 stronger than anticipated despite pandemic

Dubbed the "Accelerate" scheme, the initiative outlines the car maker's plans for a sustainable future.

The brand has ramped up its electrification targets but has also committed to next-generation key combustion-engine models, such as the Golf or the Tiguan.

Under the Accelerate scheme, electric vehicles are expected to make up 50% of the automaker's sales in the US and China by 2030, with Brandstätter wanting to position the company as "the most desirable brand for sustainable mobility."

The company will also continue to invest heavily in software and digital technology, including autonomous driving.

Brandstätter made it clear that the shift to electromobility is just the beginning of a tough selection process in the automotive industry – the digitization of products and business models is imminent.

“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,” he said.

The firm has also committed to releasing one news EV model per year to meet its climate goals.

VW will launch three new EVs this year: the four-wheel-drive ID.4 GTX, the ID.5 SUV, with ID.6, a large SUV, will be launched exclusively in China by the end of the year.

Brandstätter also announced that the ID.1, a small electric car, will be available commercially by 2025, two years earlier than expected.

The CEO also announced the company will not yet move away from traditional combustion engines and are set to offer "next-generation" engines, optimised for efficiency and climate emissions.

Countries such as the UK and Portugal have vowed to ban the sale of all diesel and petrol engines by 2030, however, certain exemptions will be made for semi-hybrid vehicles - combustion engines that run off a certain amount of electricity.

Read more: UK to ban all sales of diesel and petrol vehicles by 2030

The automaker is also set to invest £13 billion in digital systems over the next five years, including as part of their self-driving cars bid with Microsoft.

Brandstätter said he hopes VW can make autonomous driving and its associated technologies the mainstream for many people by 2030.

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