Volkswagen’s new $5 billion fuel cell car makes $3.5B in first week of sales
Volkswagen has unveiled its $5.4 billion fuel-cell car, the Golf GTI, for sale in the United States and Europe.
The car is the first electric car to go into production.
The company also unveiled its next-generation gasoline-electric hybrid, the Passat.
Volkswagen will unveil the new Golf GTi at the Frankfurt Motor Show in April, along with a new version of the Passats plug-in hybrid and an all-electric version of its sport-utility vehicle.
Volkswagen CEO Martin Winterkorn said that the new cars are “a significant step forward for the company, which has always strived to provide its customers with the best value.”
Volkswagen’s goal is to deliver fuel-powered vehicles that “have the potential to make the transition to a more sustainable future,” he said.
In an interview with Bloomberg News, Winterkordens spokesman Michael Cramer said the car was the result of more than five years of research and development.
The Golf GTIs first-generation, battery-powered model, which went on sale in 2014, combined a hybrid system with a battery pack from a German automaker called Bosch.
The battery pack could provide up to 80 miles of range in just three hours of charging.
The new model is powered by a Bosch system that has a range of 100 miles, while the battery pack provides up to 200 miles.
“This is a very good result,” said Wolfgang Ullrich, chief executive officer of Bosch, which makes the battery system.
“The battery is a technology that we are very proud of.”
VW plans to sell the car for $30,000, a price that puts it in the range of luxury models from the likes of BMW and Mercedes.
It will be sold in Europe, where the company’s existing car lineup is a bit of a luxury draw.
Volkswagen also announced that it has sold more than 5.5 million Golf GTis in the U.S. so far.
In the United Kingdom, where VW has been selling its electric cars since 2016, the automaker is still selling the Golf.
“These vehicles represent an important milestone in Volkswagen’s ambitious energy transformation strategy,” Volkswagen’s chief executive, Martin Winterkels, said in a statement.
Volkswagen is now the biggest player in the world when it comes to electric cars, and the company says it will soon introduce two new electric cars in the coming years.
The VW brand also has a new sports utility vehicle, the GLC, in the works.