Volkswagen updated its plans for electric cars with a complete overhaul of its investment strategy.
After announcing an initial investment of $10 billion in EVs earlier this year, which was still smaller than the German automaker’s investments in gas-powered cars, they now promise to spend up to 70 billion euros (~$84 billion USD) in order to bring 300 electric vehicle models to market by 2030.
More interestingly, most of the investment 50 billion euros (~$60 billion) will be in battery production in order to support their electric car ambitions for the next decade.
Frankfurt Motor Show
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