VW already makes electric vehicles, but now it says it plans to evolve "from car manufacturer into a world-leading provider of sustainable mobility" Photo: VW

RE can benefit as VW allocates billions to e-cars and battery strategy

Volkswagen Group (VW), in what it calls "the biggest change process" in its history, will spend billions to develop more than 30 new electronic vehicle models and battery technology that could have a huge impact on renewables.

16 June 2016 15:07 GMT Updated 25 October 2016 16:01 GMT

By Bernd Radowitz in Berlin

The German vehicle maker says its investment will be in the double-digit billions of euros.

VW, which together with GM and Toyota is one of the world's biggest car manufacturers, aims to sell up to three million e-vehicles a year by 2025, equivalent to 20-25% of its total unit sales expected by then.

It didn't detail what share of the investment will go into batteries, but says it plans to develop battery technology as a new competency.

"The

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RE can benefit as VW allocates billions to e-cars and battery strategy