Volkswagen will spend at least 44 billion euros on electric cars until 2023

Volkswagen will spend at least 44 billion euros on electric cars until 2023

November 17, 2018 0 By autotimesnews

The development of new models and new technologies requires large investments from manufacturers. Volkswagen announced that it will invest at least 44 billion euros in the development of electric cars until 2023.

The German concern Volkswagen has published preliminary plans for the development of the company as part of the disclosure of its investment plan. This was reported by the foreign edition of Bloomberg. According to the data shown, over the next five years about $ 50 billion will be invested in the development of electric vehicles, unmanned technology, as well as the development of about 50 electrified models.

The investment plan of the auto concern was largely influenced by the demand for Tesla cars. According to the agency, in 2019, the company will produce models of electric cars Porsche and Audi, and by 2020, Volkswagen plans to launch the sale of low-cost electric cars under the brand VW I.D.

In addition, $ 4.5 billion will be invested in the development of the market of the Middle Kingdom, which will allow the company to strengthen in the Asian region, as well as to establish the production of electric cars. Of course, the concern also does not forget about the organization of the infrastructure of charging stations for electric cars in Europe and other countries.