Mubasher TV
Contact Us Advertising   العربية

Volkswagen to boost electrification, autonomous driving investment

Volkswagen to boost electrification, autonomous driving investment

Mubasher: Volkswagen’s supervisory board gave the green light to a multi-billion dollar investment plan with which the German auto manufacturer seeks to lead in autonomous and electric vehicle (EV) technology.

The investment strategy included steps to retool three German plants to mass produce EVs and to seek partnerships with battery providers and rival automobile makers.

Until 2023, Volkswagen plans to invest around EUR 44 billion ($50.16 billion) in electrification and self-driving technology as well as mobility services and digitalisation, the car giant said.

Until now, Volkswagen planned to invest EUR 34 billion from this year to 2022.

Volkswagen would focus on improving profitability across its brands and accelerating innovation, the German company’s CEO Herbert Diess said.