Volkswagen called the amount of investment in electric cars

Three enterprise of the concern – in Emden, Zwickau and Hannover – will be reused and ready to produce electricity cars. The planned construction of the initiative in Eastern Europe.

The German car company, Volkswagen, intends to invest in the development of electric vehicles, self-drive and digitalization cars are 44 billion euros in the next five years (up to 2023). A decision of this type was adopted on Friday, November 16, the board of directors of the concern.

According to Reuters, around a third of the company's total costs are planned for this period.

In the previous five year program (from 2018 to 2022), 34 billion euros were allocated for these purposes. "We focus on promising mobile areas with investments and we are constantly following our strategy," said Herbert Dis, chairman of the board of directors.

The concern intends to raise funds for electricity-related programs due to multibillion-dollar savings programs when producing other models.

VW board representative Oliver Blume confirmed that the three companies of concern – at Emden, Zwickau and Hannover – will be reused and educated for the generation of electric vehicles. In addition, it is proposed to build a plant in Eastern Europe.

Earlier, the number of electricity vehicles in Europe in the first half was reported to be more than 1 million, and by the end of the year it should reach 1.35 million.

Source: Russian DW Service

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