Volkswagen Investing Strongly in the Future
"VW Group is planning an investment of EUR 60 billion during 2020-2024. Of this, EUR 33 billion will be invested in electromobility and EUR 27 billion in hybridization and digitalization. VW plans to introduce 75 all-electric models and 60 hybrid models to reach 29 million EV sales by 2024.
VW has considerably increased its EV sales target (from 22 million by 2030) to maintain its global leadership position as the automotive industry is speeding up its transition from conventional to electric vehicles. The company's focus on the emerging technology can be gauged from the fact that the investment (of EUR 60 billion) accounts for more than 40% of the company's total investment in property, plant, equipment and all R&D costs during the period." - Aman Madhok
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Nov 19, 2019
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