Volkswagen Group Has Spent 20 Billion Euros to Put Pressure on Tesla

Volkswagen Group has spent 20 billion euros (about US $25 billion) to select electric vehicle batteries and related technology partners to meet the needs of electric vehicle projects and put pressure on rival Tesla.According to foreign media reports, Volkswagen Group has spent 20 billion euros (about US $25 billion) to select electric vehicle batteries and related technical partners to meet the needs of developing electric vehicle projects and continue to exert pressure on rival Tesla.It is reported that two and a half years ago, Volkswagen suffered an exhaust emission fraud scandal. Before that, Volkswagen did not move fast enough in developing electric vehicles and lagged behind other competitors.

However, after the scandal, Volkswagen changed its strategy. At the same time, under the development of battery technology and the global pressure on automobile manufacturers to reduce pollution, Volkswagen began to pay attention to completely zero emission electric vehicles.In September 2015, the US Environmental Protection Agency accused some Volkswagen diesel vehicles of cheating in exhaust gas detection, mainly involving NOx emission. Volkswagen later admitted that about 11 million diesel vehicles were involved in using cheating software to avoid exhaust detection on relevant diesel vehicles. The incident led to the resignation of former Volkswagen Group President Wende en. The picture shows Matthias Mueller, former president of Porsche, becoming the new CEO of Volkswagen after the "emission gate" incident at a press conference.On Tuesday, Volkswagen announced that they have locked in battery suppliers for models sold in Europe and China. 80% of Volkswagen's vehicles are sold in Europe and China. Soon, they will finalize battery suppliers for models sold in North America.

Tesla's highly anticipated model model 3 has repeatedly missed key production targets. Volkswagen plans to start assembling zero emission pure electric vehicles in 16 factories around the world by the end of 2022.Volkswagen CEO Matthias Mueller said about the electric vehicle project at a press conference: "in the past few months, we have been making every effort to quickly and resolutely deploy roadmap (the code name of Volkswagen electric vehicle development project)."Volkswagen's goal is to sell 3 million electric vehicles worldwide every year by 2025, and complete the electrification of all 300 models by 2030, that is, every Volkswagen model should have an electric version.

Mueller revealed that because Volkswagen itself does not have the ability to produce batteries, they chose LG Chemical, Samsung and Chinese battery manufacturer Ningde times as partners. The above three enterprises will provide batteries for Volkswagen's electric vehicles.