Volkswagen (NASDAQ:$VLKAY) plans to invest more than $20 billion euros in zero-emission vehicles by 2030, and pioneer Tesla (NASDAQ:$TSLA) is sweating.

The world’s largest automaker by sales said on Monday that it would roll out 80 new electric cars across its multi-brand group by 2025, up from a previous goal of 30. Further, Volkswagen hopes to electrify each of its 300 group models by 2030.

How much will this cost? A whopping $10 billion.

Don’t let that impressive dedication to emission free vehicles distract you from the company’s most recent unfortunate “diselgate.” Two years ago, Volkswagen admitted to cheating on U.S. diesel emissions tests. The scandal nonetheless prompted a strategic shift, while major advances in batteries and a global fight against pollution in the wake of VW’s scandal have raised pressure on automakers to speed up development of zero-emission alternatives.

VW’s so-called I.D. model will compete with Tesla’s least expensive car, the new $35,000 base-price Model 3 sedan, for mass-market buyers. CEO Mueller states: “Although we have suffered financially in the past two years because of the diesel issue, we are positioned well enough in financial terms to be able to shoulder these investments without problems.”

VW’s ambitious electric car program will center on the new MEB modular platform developed by its namesake brand, which will underpin all mass-market electric vehicles from across the group. Specifically, a Golf-style compact model with about 600 kms of driving range is due to be built in 2020.

Featured Image: twitter