German car manufacturer Volkswagen will invest 122,000 million euros (about 130,000 million dollars) in the transition to the electric and connected car, the company reported on Tuesday.
That sum represents two thirds of the total investments planned by Volkswagen in the next five years, the group said.
Until 2027, the main European car manufacturer will dedicate 68% of its 180,000 million euros in investments to key technologies for the electric and connected vehicle.
This represents an increase of 13% in relation to the previous multi-year investment plan.
The investments are aimed above all at the construction of battery cell factories and the secure supply of raw materials for the manufacture of batteries, Volkswagen explained in a statement.
Source: AFP
Source: Gestion
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