Thursday , May 26 2022

Volkswagen is investing € 44 billion in electric vehicles by 2023


The largest German automaker Volkswagen Group, on Friday, announced its intention to invest around 44 billion euros over the next five years in the fields of electricity and digital technology.

The company said following the meeting of the Supervisory Board in the city of Wolfsburg that these investments represent around a third of the total costs of the German group for the period from 2019 to 2023.

"We're redirecting the company towards environmentally friendly transport," said Herbert Des, the chief executive of the group, adding that I had a goal to make it increase the speed of innovation in the company.

Deiss said that Volkswagen was considering the possibility of entering electricity generation in the future.

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