Volkswagen will spend E60bn on switch to electric vehicles
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U.S., Nov. 18 -- Volkswagen has announced it will expand its electric fleet over the next decade to include 75 all electric models and a further 60 hybrid vehicles.
The German car manufacturer has committed to producing four million additional battery-powered vehicles during the next decade. It has pledged to spend E33bn on electric mobility in the next four years and a further E27bn on digitisation and hybrid technology by 2024.
This amounts to slightly more than 40 percent of the company's investments in property, plant and equipment and all research and development costs during the planning period. Compared with the Group's last Planning Round, it represents an increase of around 10%.
"We are resolutely pressing ahead with the trans...
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