VW plan to sell 26 MILLION electric cars by 2029
Volkswagen is further expanding its electrification plans, with £50 billion being spent to deliver 75 new EVs and sales of 26 million by 2029.
Its investment plan for the next five years will see it spend a total of £50 billion to pursue its plans, an increase of around 10 per cent on the previous plan, and aims to deliver 75 fully electric models, and 60 hybrid models, across the group over the next decade.
Those new electric models will deliver a total of 26 million sales in the next decade, with 20 million based on the new MEB Platform underpinning the ID. 3 and the remaining six million on the high-performance PPE Platform being developed by Porsche and Audi. That 26 million is spread across a decade, but if you look at VW’s previous plan it means they expect to sell at least four million EVs in 2029.
It’s incredibly ambitious for VW to plan to move what will account for probably 40 per cent of its sales to pure EVs in a decade, but we do wonder where the sales will come from.
There’s no doubt the new VW ID. 3 is an appealing prospect, and although the launch model costs around £35k it’s expected the cheapest model will start at a more affordable £25k. Which certainly makes it more affordable for real world buyers, but it’s still relatively expensive.
In fact, a starting price of around £25k is in the region of 50 per cent more than the starting point for the Golf, which will put it out of the reach of a big chunk of buyers however, relatively speaking, ‘affordable’ the ID. 3 is.
Perhaps VW are banking on cheaper batteries to save the day for them, maybe even solid-state batteries, but they really are betting the farm on a sea-change in affordability and appeal to pull things off.
Rtfa Zeberdee says
Aren’t most new cars leased these days? The money saved on running costs etc will possibly cover the lease cost (or close to it) – will worth a watch https://www.youtube.com/watch?v=IKAmwzpUgZU
Cars UK says
It’s certainly true that the much lower running costs of an EV will offset a chunk of the extra costs, but only for now. If VW reckon 40% of their production will be EVs by 2029 then running costs of EVs will be no different to ICE cars as road pricing takes over. The government will have to replace lost fuel duty (currently around £28 billion pa).
Peter Szczesiak says
People like me will buy them, I already have 2 hybrids and an electric truck no it will either be a secondhand modelS or a VW. Plenty are waiting for something better than a leaf or zoe and the I’D range is it
Cars UK says
Completely agree, but the actual cost will be a barrier for many with prices around 50% more than an equivalent ICE car.
Adam Nell says
EVs are more expensive upfront but you save 80% on fuel costs and 50% on maintenance costs. Most people are not so stupid they cannot see this.
Cars UK says
It’s a point, but only for now, although servicing costs on new cars is not a huge consideration. But at the sort of volume VW expect there is no chance EVs won’t be taxed at the same rate as ICE cars. That means black box road charging for all, electricity costs similar to petrol costs and no grant subsidies.