VW Group will invest $ 40 billion in EV and autopilot production by 2022

VW Group will invest $ 40 billion in EV and autopilot production by 2022

November 19, 2017 0 By autotimesnews

According to Volkswagen, by 2030, each model of the company will be electrified.

From 2020 to 2022, the German automobile company Volkswagen Group will invest about $ 40 billion in the development of autopilot technologies and the production of electric vehicles. Moreover, most of the funds will be spent on the electrification of all models of the concern. In particular, a new platform for the EV will be developed. This is reported in a press release by the VW Group.

Part of the new strategic plan of the Germans is the modernization of production sites and re-training of most of their personnel.

In 2018, the concern will concentrate on achieving the following goals:

  • re-equipment of the plant in Zwickau for the production of hybrids and electric vehicles,
  • centralization of the assembly of the entire Passat family at the Emden factory,
  • Launching the Golf collection at the Wolfsburg site.

“With the approval of the new strategic plan, we are laying the groundwork for achieving Volkswagen’s worldwide leadership in the production of electric vehicles and hybrids by 2025. We re-invent the car. To do this, we will make targeted investments in autonomous driving and the EV, “said Volkswagen CEO Mathias Muller after the next meeting of the Supervisory Board.

Together with the upgrade of production lines, the German concern will create a new electric architecture Electricular Electric Baukasten (MEB), which will be the basis for all future Volkswagen electric vehicles, including the new Beetle.