Volkswagen to invest in e-mobility, digital tech by 2024
FRANKFURT – Volkswagen to invest 60 billion euros (£51.7 billion) by 2024 towards developing electric and hybrid cars and digital technologies.
Volkswagen, the multi-brand car and truckmaking group, plans to build 75 variants of electric cars and around 60 hybrid vehicle models. By 2029, around 26 million electric cars are to be built, out of which 20 million vehicles will use VW’s electric MEB vehicle platform.
Volkswagen plans to retool its existing plant in Emden, Germany so as to build an electric sports utility vehicle (SUV) from 2022 onwards. A decision on where to locate the new factory will be taken by the end of the year.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.