Monday , September 26 2022

Politika Online – Volkswagen invests 44 billion euros in electric cars



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VOLFSBURG – Volkswagen is planning to invest 44 billion euros in electric cars, digitization, autonomous driving and new mobility services by 2023, within the turn of Europe's largest automaker in 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, by producing more vehicles of different brands on the same production line, reports Reuters.

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

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