Speaking on the eve of the Frankfurt auto show, chief executive officer Matthias Mueller announced sweeping plans to build electric versions of all 300 models in the 12-brand group's lineup.
It also follows Shell announcing it will begin installing electric vehicle charging points in the United Kingdom this month. These 80 new vehicles will include 50 models which are expected to be fully-electric and 30 vehicles which will be plug-in hybrids.
"With this we generate just about enough cash to shoulder the investments, but have actually very little leeway", he said. "The transformation in our industry is unstoppable".
But back to the changes in this second version of the ID Crozz concept: VW says much of the exterior design represents what the production model will look like, including the LED headlight design.
Automakers will be eager to show off technologies that can help people get around without owning a auto.
"We need to improve profits considerably in the USA", he said, as the automaker prepares for "the next phase" of electric, connected and autonomous vehicles.
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First revealed at the Shanghai Motor Show in April, the electric auto concept has been updated to move it closer towards production.
Volkswagen has previously vowed to spend a whopping 10 billion euros in their effort to bring electric cars and completely shift to that market by the year 2025.
Volkswagen has no plans to ditch diesel engines and isn't anxious about the rising threat of Tesla. Looking to expand into the European market, Hyundai Motor and Kia Motors have unveiled new sub-compact crossovers and high-performance vehicles at the show.
Yet the Frankfurt show remains a very big deal for the home team: Daimler AG's Mercedes-Benz luxury brand, Munich-based BMW AG, and Volkswagen, all of which will have giant display stands.
"The heated debate on driving bans in cities, on the future of diesel and e-mobility shows the times when our industry celebrated itself here in Frankfurt, basking in its own glory, are definitely over", said Mueller, who arrived on stage in a self-driving prototype dubbed Sedric.