Electric car

VW Group to invest $100B on future tech in next 5 years

The Volkswagen Group on Thursday supplied an replace on its technique for the approaching decade, and key among the many plans is an funding totaling 89 billion euros (roughly $100.5 billion) on future expertise.

The funding covers the subsequent 5 years and, for the primary time, represents greater than half of the automaker’s whole capital expenditure for the five-year interval, which on this case is 159 billion euros.

A complete 52 billion euros will likely be spent on creating electrical automobiles. The determine is 50% increased than beforehand deliberate resulting from rising demand for EVs. VW Group at the moment estimates that EVs will symbolize 25% of its gross sales by 2026, up from about 5% in the present day. That is a number of EVs contemplating VW Group is on observe to ship 9 million automobiles in 2021. The automaker sees itself changing into the largest EV firm on the planet by 2025.

A few of the funding for EVs will likely be diverted away from growth of hybrid automobiles which VW Group had deliberate to supply as an intermediate expertise.

Volkswagen Group technique replace – December 9, 2021

One other main portion of the funding, round 30 billion euros, will go towards software program growth, an space that covers software program as a service and self-driving automobiles. VW Group estimates {that a} third of mobility-related revenues from the worldwide market will come from software-based providers by 2030. VW Group is not alone on this considering. Stellantis this week stated it expects to generate 20 billion euros from software-based providers by 2030.

In the course of the technique replace announcement, VW Group additionally confirmed a California camper model of the upcoming ID.Buzz electrical van. The automaker additionally made point out of an Audi mannequin code-named the E6. No particulars on timing for both mannequin was talked about.

Lastly, the automaker additionally talked about a reshuffle of some executives deliberate for 2022. Herbert Diess is about to stay as CEO, although he can even take over the Cariad software program growth arm which is at the moment being managed by Audi CEO Markus Duesmann.

Ralf Brandstaetter, CEO of the Volkswagen model, will be a part of VW Group’s board and likewise be liable for the automaker’s Chinese language operations.

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