Volkswagen has stepped up its shift toward the electric auto and is planning to invest over €20 billion or $24 billion in the zero-emission vehicles by 2030 as it tries to challenge the pioneer in the industry Tesla in creating mass market vehicles.
Volkswagen, which owns the Audi, Skoda, SEAT and Porsche brands, will continue to invest in improving its gas and diesel engines while bringing 80 new electrified models to market by 2025, including 50 purely battery-powered vehicles.
Matthias Müller, Chairman of the Board of Management of Volkswagen said: "We have got the message and we will deliver".
The company's so-called I.D. electric model has been created to compete with Tesla Inc.'s least expensive vehicle, the new Model 3 sedan, which is available with a price tag of $35,000.
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Volkswagen, at this week's Frankfurt motor show, has confirmed that a production version of its all-electric ID Crozz SUV concept will be revealed in 2020 alongside the emissions-free, four-door ID small auto.
"The interior has also been re-equipped and further developed - as an Open Space - with a superior amount of space and highly versatile seating concept". This is especially important in times of technological transformation.
Volkswagen I.D Crozz has two drive system units at the front and rear that claims to have handling characteristics on a par with those of a Golf GTI.
"One thing is clear: The Golf of the future must once again be a people's vehicle!"
By 2025, Volkswagen expects to be marketing 23 all-electric models.
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While VW makes no mention of curb weight, the company does forecast an impressive range per charge: 500 kilometers, or 311 miles.
Growing restrictions and charges for diesel and gasoline vehicles are spurring the rise of electric cars, although analysts say big investments in charging points and power networks will be needed to serve a mass market.
VOLKSWAGEN will flick the switch on its electric revolution within the next three years and has a line up of zero emission models in the wings. VW says the auto will still handle like a GTI and its battery can be charged to 80 percent in 30 minutes.
A production version of the I.D. Crozz is slated to go on sale in 2020, along with two other I.D. vehicles.
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