Volkswagen to launch 10 more electric cars by 2026, aims to ramp up EV offensive

Volkswagen said on Tuesday that it is planning to introduce ten more electric vehicles by 2026 in its global EV portfolio. Also, the German auto manufacturer has said that it plans to ramp up the EV offensive in the coming years, aiming to achieve the number one spot in the global EV market. Also, the car brand has stated that China will be one of the most important markets moving forward when it comes to electric vehicles. Interestingly, Volkswagen's comment comes at a time when established foreign brands are losing ground in China to nimble local rivals.

Speaking about the company's EV strategy, while unveiling the ID.7 EV model at Auto Shanghai, Volkswagen CEO Thomas Schafer said that the automaker will bring ten more electric cars to the market by 2026. His comment comes in line with Volkswagen's previous comment earlier this year when it said to speed up its time to market for new models from four years to closer to 2.5 years on average.

In the last few years, several well-established foreign car brands have lost their market share in China to their local rivals. The Chinese electric car brands have literally shot up at a rocket-like speed in the last couple of years, as compared to their foreign rivals. Keeping that in focus, Volkswagen aims to strengthen its game in the Chinese market, as it is one of the most important global markets for the German brand.

As part of that strengthening strategy, Volkswagen aims to speed up its product rollout timing in China. To achieve that target, Volkswagen is focusing on increased localisation of research and product development in the country. Speaking about the company's strategy for China, Schafer said that its guiding principle is development in China and for China at full speed.