Volkswagen Group is all set to expand its fleet of Electronic Vehicle cars at a massive scale. The group has announced that around 16 locations around the world will be producing EVs by 2022 and has already started forming partnerships with battery manufacturers in Europe and China.

India: Volkswagen Group, the world’s second largest automotive group, is moving forward to transform to electric-mobility.

The Group CEO, in a statement at the annual earnings announcement in Berlin, announced that around 16 locations across the world will be producing battery powered vehicles by the end of 2022.

Volkswagen, at present produces electric vehicles in three locations, and in the next couple of years, nine Group plants will be equipped for the same. In order to ensure sufficient battery capacity for the huge expansion of eco-friendly electric mobility, the company has already started to form partnerships with battery manufacturers in Europe and China.

The Group currently produces electric vehicles at three locations, and in two years’ time, a further nine Group plants are scheduled to be equipped for this purpose. To ensure adequate battery capacity for the massive expansion of environmentally-friendly electric mobility, partnerships with battery manufacturers for Europe and China have already been agreed. The contracts that have already been awarded, have total volume of approximately EUR 20 billion and a supplier decision for North America will soon be taken.  

In an interview, the CEO of Volkswagen group claimed that since the last few months, the group has taken every measure to implement ‘Roadmap E’ with the required speed and determination.

“Roadmap E” was launched last fall, and the company announced their plans to build around three million electric vehicles every single year, by 2025 and sell 80 new electric Group models. Presently, nine new vehicles will be added to the Group’s electric portfolio of eight e-cars and plug-in hybrids, out of which three of will be purely electric-powered.

The CEO further added that in 2019, a new electric vehicle will be added “virtually every month”. This is the company’s strategy to offer the largest fleet of electric vehicles across the globe, in all brands and regions, in the coming few years.

According to TechSci Research, the Electric Vehicle market is anticipated to post robust growth due to growing consumer inclination towards electric passenger cars coupled due to the rising awareness of vehicular pollution and its effect on the atmosphere. Moreover, declining prices of electric vehicles, favorable government policies and continuous surge in R&D by several automobile companies to develop premium quality electric vehicles will drive the growth of the electric vehicle market in the coming few years.

According to the recently published report by TechSci Research, “Global Small Electric Vehicle Market, By Technology (Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, Battery Electric Vehicle), By Battery Type, By Geography, Competition Forecast & Opportunities, 2022”, Global small electric vehicle market stood at around $ 6 billion in 2016, and is forecast to grow at a CAGR of 23% during 2017 – 2022, to reach $ 20.7 billion, on account of increasing consumer inclination towards electric passenger cars coupled with declining prices of electric vehicles. Moreover, the boost in demand for small electric vehicles can be attributed to favorable government policies and continuing surge in R&D investments by several OEMs to develop premium quality and affordable small electric vehicles. All the above stated factors along with growing penetration of small electric vehicles in developing economies are anticipated to positively impact the market over the course of next five years.

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