• Business - Companies
  • Updated: March 15, 2021

Volkswagen Unveils Plan To Overtake Tesla

Volkswagen Unveils Plan To Overtake Tesla

Volkswagen AG has revealed plans to become the world's biggest electric automaker by building six battery factories in Europe — operational by 2030, and global investments in charging stations.

The automaker said in a statement on Monday that it had already secured agreements for two sites, and is exploring options for another four plants. Volkswagen also said that the plants, to be built in partnerships, will have a production capacity of 240 gigawatt-hours a year.

READ MORE: Volkswagen Taps Microsoft’s Cloud To Develop Self-Driving Software

“E-mobility has become core business for us. We are now systematically integrating additional stages in the value chain,” Chief Executive Officer Herbert Diess told Volkswagen’s Power Day.

“We are now systematically integrating additional stages in the value chain, we secure a long-term pole position in the race for the best battery and best customer experience in the age of zero-emission mobility,” Diess added on Monday.

VW has the most comprehensive EV plan in the industry that’ll add about 50 purely battery-powered vehicles to its lineup by 2030.

The plants will have a capacity of 40 gigawatt-hours each, and VW is looking for partners for four of them for development. The carmaker changed course to construct a site in Salzgitter, Germany, on its own after a previous plan to join forces with Northvolt AB. The battery firm will still be its partner for a factory at Skelleftea in Sweden, announcing VW will order $14 billion in battery cells.

The group also said it would enter partnerships with oil major BP and top European utilities Enel and Iberdrola to expand electric vehicle charging infrastructure, still seen as a major hurdle to the mass adoption of battery-powered cars.


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