Still reeling from the ongoing diesel-emissions scandals, Volkswagen AG announced a major global electrification initiative that will launch 30 new electric vehicles over the next decade. Presented as part of its “Together – Strategy 2025” plan, VW says this decision “ushers in the biggest change process in the company's history, with the focus on transforming the core business and tapping potential new revenue streams.” Along with introducing this barrage of cleaner, greener and what it believes will be more profitable vehicles by 2025, VW execs have set an ambitious global sales goal of moving two to three million pure electric models each year by then. That would give the company roughly a 20-25 percent share of the total world EV market.

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To facilitate its transition from an auto manufacturer to “a world-leading provider of sustainable mobility,” VW AG plans a sweeping reorganization that will cut costs by realigning its components business, optimizing its product portfolios and improving efficiencies. Part of that change will entail developing battery technology, digitalization and autonomous driving into new group competencies. Volkswagen also stated that it anticipates investments in these future technologies will be “in the double-digit billion range.” The automaker says it also will establish cross-brand mobility solutions that will leverage its role in the emerging on-demand ride-hailing/car-sharing businesses, both on its own and in strategic partnerships. Specific details on all aspects of the “Together – Strategy 2025” plan will be released later this year.

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"Volkswagen has always enriched the lives of millions of people all over the world with its brands and products. Our aspiration is to continue that success story and play a leading role in shaping auto-mobility for future generations, too,” stated CEO Matthias Müller at the presentation. “This will require us – following the serious setback as a result of the diesel issue – to learn from mistakes made, rectify shortcomings and establish a corporate culture that is open, value-driven and rooted in integrity."

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