Volkswagen Group to Offer Electrified Versions of Its Entire Lineup by 2030

Volkswagen Group to Offer Electrified Versions of Its Entire Lineup by 2030

The world's largest vehicle maker by sales plans to invest a total of 20 billion euros (24 billion US dollars) until 2030 in electric mobility and even 50 billion euros in batteries.

Daimler AG's Mercedes-Benz unveiled a compact electric vehicle under its EQ sub-brand that showcases its efforts to make connected, electric, shared and autonomous vehicles.

Matthias Müller, Chairman of the Board of Management of Volkswagen said: "We have got the message and we will deliver".

According to Mueller, the automotive industry is undergoing an irreversible process of transformation.

"We will become more electric after 2020 worldwide, but also in the U.S.", Diess said. Mueller on Monday said that diesel remains a key part of the company's strategy.

The world is shifting toward electric vehicles, but it's proving to be a gradual process.

With governments planning to phase out sales of gas and diesel engines, electric cars were also a big focus throughout the show.

Volkswagen has no plans to ditch diesel engines and isn't anxious about the rising threat of Tesla. The company is also looking into longer life auto batteries that could in the future offer a driving range of over 370 miles in one charge. And only then will electric cars come out of the niche - and achieve relevant market share in years to come.

It's a decision that forms part of a much larger trend pushed both by governments as they look to reduce the air pollution in cities, and auto companies that realise customers are looking for cleaner, more efficient vehicles. German automakers are taking this chance to show off the fruits of their push toward electric vehicles. Volkswagen's Porsche brand showed off its new Cayenne SUV at an extravagant event August 29 with the Bohemian Symphony Orchestra Prague and dancers livestreamed from its home base in Stuttgart-Zuffenhausen.

Luxury brand Audi, the group's largest earnings contributor, will start selling its first all-electric SUV in 2018 and add two more purely battery-powered vehicles in the next three years.

"The heated debate on driving bans in cities, on the future of diesel and e-mobility shows the times when our industry celebrated itself here in Frankfurt, basking in its own glory, are definitely over", said Mueller, who arrived on stage in a self-driving prototype dubbed Sedric.