Volkswagen announces 44 billion euro-investment in e-cars and autonomous driving
The Volkswagen Group has announced investments of nearly 44 billion euros in e-mobility, autonomous driving, digitalisation, and other modernisation measures. In a press release, Germany’s biggest carmaker says it wants to “speed up the pace of innovation” and “make the electric car an affordable option for millions of people.” The company also says it will review its participation in battery production to reduce reliance on Asian suppliers, and mulls cooperation with US carmaker Ford in commercial vehicle development.
In a separate press release, the company says that the switch to the new WLTP fuel economy test cycle continues to impede on Volkswagen’s sales. In October, it delivered 10 percent fewer vehicles that a year before due to difficulties in complying with the test cycle’s requirements on time.