Wednesday , June 23 2021

Politika Online – Volkswagen invests 44 billion euros in electric cars

VOLFSBURG – Volkswagen plans to invest EUR 44 billion in electric cars, digitization, autonomous driving and new mobility services until 2023, at the turn of the largest European car manufacturer for the production of electric cars.

The German company also announced that it plans to increase the productivity of its factories by 30 percent by 2025, producing more vehicles of different brands on the same production line, reports Reuters.

This will help reduce the ratio of capital costs in the BMW Group's automotive division to six percent of revenue from 2020, added the statement.

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