Wolfsburg, Germany – Volkswagen AG and the Toshiba Corporation have signed a letter of intent to develop electric drive units and power electronics for a planned family of small electric vehicles.

The two companies are also planning the development of high specific energy density batteries for the next generation of electric vehicles.

“Volkswagen is forging ahead with the development of future drive technologies in many different areas,” said Dr. Martin Winterkorn, chairman of the board of Volkswagen AG. “In order to further strengthen our position, Volkswagen is investing in the long term and is offering cooperation projects to other companies. One of the important components in this context is the cooperation with Toshiba. I am convinced that this will be a major step forward towards the development of series production electric vehicles for our customers.”

Winterkorn said the company’s objective is to be the first manufacturer to provide an emissions-free, affordable and safe large-scale production electric vehicle. “A considerable amount of research and development work still has to be carried out until we can produce the electric vehicle, in the field of lithium-ion battery technology in particular, and this is an area in which the Volkswagen Group is working with further potential technological partners alongside Toshiba,” he said.

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