VW will reduce model complexity, engine variants to accelerate margin hike

2018 Volkswagen Golf GTI Engine 02

Jost also confirmed that while Volkswagen will continue to adapt its petrol and diesel engine vehicles to comply with environmental standards during the lifetime of those vehicles, the automaker is now set to adopt steps to slow down global warming by fading out combustion engines to a minimum.

Michael Jost, strategy chief at VW, told an automotive summit conferences in Wolfsburg, Germany, this week: "In the year 2026 will be the last product start on a combustion engine platform".

VW brand aims to invest more than 11 billion euros ($12.5 billion) in e-mobility, digitalization, autonomous driving and mobility services by 2023, including 9 billion euros for electric cars as it increases the number of battery-powered models to 20 by 2025 from two now. While that doesn't mean internal combustion engines are being ignored, shifting focus towards EVs is already having an impact on the ol' ICE that has been with us for so long.

The new petrol and diesel units are slated to arrive in 2026 and they will mark the end of an era for Volkswagen. It's also under the same pressure as the broader auto industry to hit tough emissions targets to combat climate change. All brands under VW Group will follow this, including Audi, Bentley, Bugatti, VW, Porsche, Seat, Lamborghini, Seat, etc.

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That would be an increase from the five on sale in the United Kingdom today.

The next-generation platforms are due to enter production around 2026.

Volkswagen announced another 3 billion euros ($3.4 billion) of cost cuts on Thursday in an effort to speed up an improvement in profit margins at its core VW brand.

The brand will axe a quarter of its engine and gearbox variants in Europe, concentrating mainly on the high-demand combinations of drivetrains and trim, to simplify production.

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