Volkswagen reveals all-electric ID Crozz

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The automaker said on Monday it was stepping up the pace on its electric vehicle program, announcing more than 20 billion euros ($23.86 billion) of new investments over the next 12 years.

On Monday the 11th September the German Vehicle manufacturer made this ambitious announcement, saying that they will make at least one electronic version of their near 300 models. Mercedes-Benz owner Daimler AG announced its goal to offer all its models with either electric or hybrid motors by 2022. This will include 80 all-new electrified models by 2025, 30 of which will be plug-in hybrids and 50 pure electric.

CEO at Volkswagen Matthias Mueller said that a company such as Volkswagen must be the leader and not a follower.

"Nothing can stop the transformation in our industry. People want to have clean air, and we want to make our contribution here", he said.

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Unlike Volvo, which already pledged to only sell cars with electric motors from 2019, VW isn't putting ICE on ice just yet.

The Volkswagen ID Buzz will be part of Volkswagen's planned ID line of electric vehicles. In order to achieve this plan, the automaker will be investing more than $24 billion U.S. in developing new technology and two new platforms for their electric vehicles. The namesake brand is presenting the latest design iteration of the fully-electric I.D. Crozz compact crossover and the I.D. Neo hatchback-both come to market in 2020. The company is also looking into longer life vehicle batteries that could in the future offer a driving range of over 370 miles in one charge. With their big cars, German automakers are particularly reliant on diesel in their home market of Europe and had been banking on the fuel-efficient engines to help meet ever tougher emissions rules that will tighten further early next decade.

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.

Carmakers at the Frankfurt auto show revealed low-emissions vehicles and technology strategies they hope will let them profit from the sweeping changes expected to hit the auto industry in the next few years. He added that VW is setting the scene for a final breakthrough in e-mobility.

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