Volkswagen AG Chief Executive Officer Matthias Mueller announced sweeping plans to build electric versions of all models in the group’s lineup as the world’s largest automaker accelerates the shift away from combustion engines and tries to draw a line under the emissions-cheating scandal.
Speaking on the eve of the Frankfurt auto show, the CEO laid out the enormity of the task ahead, vowing to spend 20 billion euros ($24 billion) to develop and bring the models to market by 2030 and promising to plow another 50 billion euros into the batteries needed to power the cars.
Matthias Mueller
Photographer: Krisztian Bocsi/Bloomberg
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