Investments: VW is even more money in electric mobility

Volkswagen wants to further increase the budget for hybridization, electromobility and digitization. In the next four years, just under 60 billion and thus a good 40 percent of all investments in this area will flow.

November 16, 2019, 3:32 pm,
Michael Linden

The ID Crozz before the presentation
(Image: Werner Pluta (Golem.de))

Volkswagen sees its future in alternative drives and in digitalization: The Supervisory Board has decidedto spend nearly 60 billion euros for the development of hybrid drives, electromobility and digitization for the years 2020 to 2024. This is over 40 percent of total investment over the planning period. Compared to the last round of planning, the budget for these topics has increased by about 10 percentage points.

Job market

Bauerfeind AG, Zeulenroda-Triebes
PSI Software AG Business Unit PSI Energy EE, Aschaffenburg, Berlin

Volkswagen wants to spend more than half of the almost 60 billion euros (33 billion euros) for electric mobility.

The Group has also adjusted its long-term planning for the next ten years. Volkswagen plans to launch up to 75 pure E models across all brands by 2029, along with around 60 hybrid vehicles. By 2029, around 26 million electric cars are to be sold, plus about six million hybrid vehicles.

Most of the cars will be based on the Modular Electric Drive (MEB) – about 20 million pieces are to be built with it. Six million will be based on the high-performance PPE platform.

Volkswagen is planning to build electric cars in Mlada Boleslav, Chattanooga, Foshan and Anting, as well as in Zwickau, Emden, Hanover, Zuffenhausen and Dresden. Emden should from 2022 the SUV ID.Next which is also referred to as ID.4X and on the Study I.D. Crozz from the year 2017 should be based.

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