Unfortunately, there aren't any details about exactly which of the group's current production locations will take care of the green job - we only know the company will jump to nine EV facilities before 2020 and the total of 16 will be live in 2022.
Over the coming five years VW plans to spend more than 34 billion euros (R495.50billion) on research and development and investments in its range of future projects, from electric cars to autonomous driving.
"From 2019, there will be a new electric vehicle virtually every month", said Matthias Muller, CEO of Volkswagen AG. The company claims that this year nine new vehicles, three of which will be purely electric-powered, will be added to the group's electric portfolio of eight e-cars and plug-in hybrids.
In 2015, Volkswagen was caught rigging cars to cheat on U.S. diesel emissions tests and paid more than 20 billion euro (£17.8 billion) in fines and legal settlements.
VW now has three electric vehicle factories, but that number will increase to nine by 2020 and to at least 16 by 2022, the automaker said Tuesday.
The size of the investments is in striking contrast to the current market share of electric vehicles and German manufacturers are now lagging behind its competitors such as BAIC from China, Renault-Nissan and Tesla.
It was driven in a Tesla Model S, served entirely by the company's network of Supercharger DC fast-charging stations along the way.
The company still reiterated its commitment to "conventional vehicles", which we assume means diesel and gasoline vehicles. We also hear a sporty electric hatchback may be part of the product onslaught. "We are putting nearly Euro 20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than Euro 90 billion scheduled over the next five years".
Unlike some of its competitors, Volkswagen isn't going entirely in on electric vehicles - for now.
Last year, it generated $8 billion in global revenues. Famed investor Mark Cuban says it will produce "the world's first trillionaires", but that should still leave plenty of money for regular investors who make the right trades early.