"The Group as a whole will deliver more than 80 new electric models to customers by 2025, including nearly 50 true e-vehicles and 30 plug-in hybrids", Müller explained.
Speaking ahead of the Frankfurt show - Europe's premier new vehicle event of 2017 - VW chairman Dr Herbert Diess said the company anticipated that by 2025 demand for its ID models could reach a million per year. And setting the scene for e-mobility's final breakthrough.
The total investment amount also includes a Dollars 60 billion dedicated towards building four battery factories, he said according to The Verge.
Xiaomi takes on Apple's MacBook Pro with the new Mi Notebook Pro
Available ports include 2 USB 3.0, 1 HDMI, 2 USB Type-C and a card reader that supports either an SDHC or SD or SDXC card. To top that up, Xiaomi is using a symmetrical super cooling system to keep the temperature under control on the inside.
The four-passenger interior also features new Alcantara suede-upholstered seats, and revised digital instrumentation.
Volkswagen's plans are the most ambitious in the auto industry and reflect the company's efforts to recover from admitting that it rigged 11 million diesel vehicles to cheat on emissions tests.
Tesla in January started mass production of lithium-ion battery cells at its own gigafactory in Nevada, which is aiming for annual battery production capacity of 35 gigawatt-hours. The company is looking for partners in the US, Europe, and China to build gigafactories, and VW Group has consolidated all of its battery R&D work at a center of excellence in Salzgitter, Germany. This is not some vague declaration of intent.
Müller added: "For us, the transformation of transportation and the energy transition are inseparable". And only then will electric cars come out of the niche - and achieve relevant market share in years to come.
Volkswagen says this is one of the largest procurement projects in automotive history and represents a marked change of tone from previous year when Müller said that ICE (internal combustion engine) cars were still "important". Of the 80 vehicles, 50 will be fully electric and nearly 30 will have a plug-in hybrid powertrain. "We know the challenges automakers face and we offer innovative solutions across the vehicle that meet and exceed their safety, performance and comfort targets". Significant improvements in consumption and emissions are promised.