Volkswagen Group has announced a massive $193 billion investment plan in the next five years, with more than two-thirds allocated toward electric vehicles and software development. The German carmaker also sees investment in combustion engine technology peaking in 2025 once Euro 7 regulations come into force.
Volkswagen Group under Oliver Blume plays an interesting game, as revealed by the company’s five-year plan presented on Tuesday. On the one hand, its Porsche brand promotes e-fuels, while Germany blocked a pan-European initiative to ban combustion engines from 2035. On the other hand, Volkswagen announces massive investments in electric vehicles, batteries, and software. This is not very different from what Toyota tried to do in the U.S. when it lobbied against tighter emissions regulations. At the same time, Toyota pretended to be launching a massive EV offensive that never happened.
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