The Volkswagen group is expanding its investments in electric mobility and digitalization in the next five years to just under 44 billion euros. This corresponds to approximately one-third of the total expenditure in the planning period of 2019 to 2023, the company said, after consultation of the Supervisory Board. For the last five-year period, the total amounted to 34 billion euros.
We have set the goal to increase the pace of Innovation, said chief Executive Herbert Diess. To examine the involvement of battery manufacturing. Already it became known that the VW plant in Hannover and Emden are from 2022 to E-car-factories. Then an additional factory in Eastern Europe is planned. Already in a year, VW will begin production of an electric car in Zwickau. As of 2021, there are six models for three brands built.
The Passat production shifted VW way from Germany to the Czech Škoda Kvasiny plant. For a new factory in Eastern Europe, Škoda and Seat to be produced, the group is currently still in a suitable location.
The Supervisory Board also decided that the company’s CEO does This get in the future, even more Power: He takes over in mid-January 2019 the control over the most important market in China. In daily business it is to be from the Manager Stephan wöllenstein supported. The current China chief Jochem Heizmann will retire.