Volkswagen plans major electrification initiative
In order to achieve these goals, the Board of Management – with the approval of the Supervisory Board – has adopted a future program, "TOGETHER – Strategy 2025". By doing so, it has also launched the biggest change process in the Volkswagen Group's history.
"TOGETHER – Strategy 2025" also includes the Volkswagen brand's "pact for the future", which the Brand Board of Management and the Works Council have been working on since early June.
With regard to vehicles, and drivetrains, special emphasis will be place on e-mobility. The Group is planning a broad-based initiative in this area: it intends to launch more than 30 purely battery-powered electric vehicles (BEVs) over the next ten years.
The company estimates that such vehicles could then account for around a quarter of the global passenger car market. The Volkswagen Group forecasts that its own BEV sales will be between two and three million units in 2025, equivalent to some 20 to 25 percent of the total unit sales expected at that time.
Volkswagen is also to review and streamline its modular architectures in the context of generating profitable growth so as to reduce complexity in development and production, increase efficiency and thus make better use of the system’s economic merits.
The regional growth strategy already initiated in particularly attractive automotive markets is being continued. The Volkswagen Group is affirming its expansion and investment plans already announced for North America and its continued expansion program in China.
In this context, the Volkswagen Group intends to tap the economy segment – i.e. the segment comprising attractively-priced entry-level products that is, for instance, especially relevant for Asia – by partnering with regional players. Talks in this regard are at an advanced stage. ■