Announced as part of the ‘Together – Strategy 2025’ initiative, proposed by the Board of Management and approved by the Supervisory Board, the Group will invest ‘double digit billions’ of Euros in sustainable mobility solutions over the next decade.

It’s said to be the biggest shift of focus in the Group’s history, with investment covering autonomous vehicle technologies, flexible transport such as ride sharing, and will make battery technology a core competency.

Former chairman, Martin Winterkorn, had announced a portfolio of 20 plug-ins by the end of the decade, though this had included plug-in hybrids. Although Audi, Porsche and Volkswagen have plug-in hybrid models, the Group currently only has fully electric versions of the Up and Golf. However, Audi is to launch an electric SUV in 2018, and Porsche has greenlighted an EV too.

Speaking at the presentation in Wolfsburg, CEO Matthias Müller said: “Together – Strategy 2025” provides the framework and compass for the Volkswagen Group's envisioned evolution from car manufacturer into a world-leading provider of sustainable mobility. It will be fleshed out with corresponding strategies for the Group brands to be gradually elaborated over the coming months. Volkswagen will present the detailed strategic program, broken down into brands and functions and backed up with specific measures and financial targets, before the end of the year.

“We will be a technology leader and role model when it comes to environment, safety and integrity. The Group will achieve competitive profitability, and so remain both an attractive investment and an excellent, reliable and secure employer. In short, Volkswagen will be an enterprise we can all be proud of.”