FRANKFURT, Germany -- Volkswagen on Monday unveiled an ambitious plan to roll out 80 or so electric car and plug-in hybrid models by 2025. This is a major jump from its previous goal of releasing 30 or so such models across the group, including Audi and Porsche, by 2025.
As a number of countries introduce tougher controls on gasoline and diesel vehicles, the decision by the leading carmaker will likely further accelerate the global shift to electric cars.
"The transformation in our industry is unstoppable. And we will lead that transformation," said Volkswagen CEO Matthias Mueller, speaking to media reporters on the eve of the Frankfurt auto show starting on Tuesday.
Of the 80 models, 50 or so will be electric cars. The German carmaker also said it will invest 20 billion euros ($23.9 billion) by 2030 in the electric-car efforts, allocating the money to developing two kinds of chassis solely for electric cars, as well as factory enhancement, expansion of car-charging infrastructure and development of batteries.
In addition to spending 20 billion euros, the automaker announced plans to place battery-tech orders worth more than 50 billion euros by 2025.
Meanwhile, Daimler CEO Dieter Zetsche on Monday said the German carmaker will spend 10 billion euros over the next 10 years for gasoline-powered vehicles. The CEO also expressed disagreement with recently announced plans by the U.K. and France to ban sales of gasoline cars by 2040.
On the other hand, Daimler on the same day showcased an autonomous concept car of EQ, a Mercedes-Benz electric-car brand. The carmaker will likely remain focused on gasoline models while keeping its eye on zero-emission models.
Some 1,000 companies and organizations from 39 countries are participating in this year's Frankfurt Motor Show. Though the number has fallen 10% from the previous show in 2015, 228 new vehicles and technologies will be on display for the first time.