VW Says It Has Secured 50 Million EVs Worth Of Batteries. Here’s What It Really Means

Ever since the Dieselgate scandal, Volkswagen has bored the auto industry almost to tears with ambitious promises about the plug-in cars it plans to bring to market in “the near future”. It has stated multiple times that it believes it will dominate the electric car market segment in “the near future”, and it has said breathlessly how its electric cars will match current Teslas in terms of performance, charging capabilities and range yet cost a half of the price.

Late last week, Herbert Diess, CEO of Volkswagen Group, told Automotive News that Volkswagen had already “booked” its new MEB electric vehicle toolkit for a total of fifty million vehicles in the future, claiming that the company had already sourced and secured fifty million cars worth of battery packs to power them.

But what’s really meant by that statement? Is it hot air from Volkswagen? How long will it take to produce fifty million electric cars? And what’s the real driving force behind securing that many batteries before a single long-range electric car has rolled off VW’s production line?

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