Volkswagen will be launching 34 new models worldwide in 2020

- VW will be investing 19 billion Euros in future technologies through 2024

- Aims to go carbon neutral by 2050

Volkswagen has officially revealed their plans for 2020 with no less than 34 new products promised in the upcoming calendar year. The German carmaker will be investing 19 billion Euros (approx. 1500 crore) in future technologies through 2024, including 11 billion Euros in the development of e-mobility alone.

The list of these 34 models is still ambiguous at the moment. But we could guess that this list would include new versions and body styles of the current models apart from introduction of newer SUVs and hatchbacks across different global markets. Meanwhile, the carmaker plans to achieve a carbon-neutral balance by 2050. And the CO2 emissions from production are to be halved by 2025. According to Volkswagen’s COO, Ralf Brandstatter, “this is new Volkswagen”. In 2020, there would be the biggest electric offensive in the automotive industry, claims the German giant. The ID3 hatchback will go soon on sale early next year promptly followed by the ID4 SUV.

Also part of this model offensive is laying the groundwork for software development of the brand and the Group. VW Group’s Car.Software organization will begin operating as an independent business unit in January 2020. And by 2025, the in-house share of car software development and vehicle-related services will increase from ten per cent today to at least 60 per cent.

Amidst the market slowdown this year, CFO Arno Antlitz remains positive for four to five per cent operating return on sales for 2019. For 2020, the financial target remains unchanged while hoping for an operating return on sales of at least six per cent by 2022 and a cash flow of over two billion Euros.

In earlier reports, we have revealed that Volkswagen plans to sell 26 million electric vehicles by 2029, apart from an additional six million hybrids. These vehicles will be underpinned by the new Modular Electric Drive Matrix (MEB) platform. They will be joined by vehicles riding on the Performance Platform (PPE). On the other hand, VW will build EVs across 16 factories around the world by 2022.