Asia Tech Wire (May 20) -- Volkswagen has denied to a Chinese media outlet that it is abandoning its goal of full electrification.

Multiple reports over the past few days have suggested that Germany's Volkswagen Group may be adjusting its electrification layout.

Bloomberg reported that there is no longer a strategy for the Volkswagen Group to go all-in on all-electric vehicles.

And Automotive News Europe reported that the Volkswagen brand may produce and sell more plug-in hybrids as demand for pure electric models slows.

In response, a source from the Volkswagen brand told Chinese media outlet National Business Daily on Monday, "This is not true, Volkswagen has not given up on full electrification."

"We are moving full speed ahead with electrification while launching models that meet the needs of different consumers," the Volkswagen Group responded.

"We have always maintained our electrification strategy," the German automotive group said. "However, during the transition process, we had to be flexible in advancing the powertrain layout as the pace of market development varied around the world."

Volkswagen said it plans to launch more than 40 new models in China over the next three years, half of which will be new energy vehicles.