Volkswagen plans to launch one electric vehicle per month starting in 2022

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I wouldn't be surprised if suppliers like LG Chem and CATL are going to benefit from this directly and the entire battery industry is going to benefit from it indirectly by locking up a lot of production capacity.

From 2019, there will be a new electric vehicle "virtually every month", Müller said: "This is how we intend to offer the largest fleet of electric vehicles in the world, across all brands and regions, in just a few years".

Volkswagen has picked partners to provide battery cells and related technology worth around 20 billion euros (US$25 billion) for its growing electric vehicle program, adding further pressure on USA pioneer Tesla.

And, as well as increasing the number of locations where battery powered vehicles will be manufactured from the current three, to 16, the carmaker has also secured battery deals for Europe and China worth €20 billion.

A newly unveiled concept auto promises a self-driving EV with a 400-mile range, joining VW's I.D. family of electrified vehicles.

The German automaker said that "a supplier decision for North America will be taken shortly".

Volkswagen group almost doubled operating profit previous year, even as it continued to grapple with fallout from the emissions scandal and prepares to press ahead with a costly strategic shift to electric and self-driving cars.

Volkswagen is looking to launch a new EV nearly every month from next year.

Volkswagen is hitting the accelerator on electric vehicle development. The about-face for electrification starting in 2022 was due to Dieselgate, he said.

Perhaps the most rapturously received electric concept, though was the Volkswagen ID Buzz, a modern-day all-electric interpretation of the classic Microbus, or Type 2 transporter.

X The German carmaker, one of the world's largest, will have 16 factories producing battery-powered vehicles by the end of 2022, up from three plants now, Volkswagen announced during its annual news conference in Berlin.

That indicates the range may well include cargo and delivery versions as well as multi-window passenger models.

CEO Matthias Mueller suggests the company is not turning its back on traditional powertrains, despite the focus on EVs.

Certainly VW is keen to move away from its diesel cheating scandal-CEO Mueller suggested last week it expected diesels to continue as part of its European offerings.

But tens of billions of dollars of supply contracts for battery cells through 2025 might seem to indicate some urgency on the part of a company struggling to look forward to a cleaner future rather than backward to the sins of its past.