According to the latest planning round for 2018 to 2022, discussed by the German automaker’s Supervisory Board of Volkswagen Aktiengesellschaft, more than 34 million euros are to be invested by the end of 2022.
The vast majority of the cash is going towards the electrification and hybridization of all Group models – something that has been revealed since September at the Frankfurt Motor Show. But this now grants the right cash to the Roadmap E electrification offensive. “With the planning round now approved, we are laying the foundation for making Volkswagen the world’s number one player in electric mobility by 2025″, said Matthias Müller, CEO of Volkswagen Aktiengesellschaft. “We are reinventing the car. We are making targeted investments in digitalization, autonomous driving, electric mobility and new mobility services by providing the necessary funds from our own resources. We are, however, doing so without sidelining existing technologies and vehicle projects, since this is how we will earn our money for the foreseeable future.”
Among the actions, of note are the decision to turn the Zwickau production facility into a pure-play e-mobility plant for the rollout of the first series production of electric vehicles on the MEB platform. They are also moving the Passat line entirely at the Emden site and the next generation Golf will be concentrated at home in Wolfsburg. As we already know, the group plans to electrify its entire model portfolio by 2030 – and in order to achieve that it will also spend more than 50 billion euro on battery cells.