Volkswagen’s big investments in electric mobility, confirm the Audi Q8 e-tron in 2026
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Volkswagen has announced its future investment plans worth 159 billion euros, of which the automaker will devote around 89 billion euros mainly to electric mobility and digitization. The company will also focus on the electrification of its European sites.
Volkswagen has announced that it will invest around € 21 billion in its factories in Lower Saxony, most of which will be piped to manufacturing sites and component facilities.
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The automotive major has also confirmed the electrification of its Wolfsburg plant through its Trinity project. The company has informed that given the high demand for electric vehicles, it also plans to re-equip the site for full production of the ID.3 from 2024. The Salzgitter site will be further expanded to become a European hub for batteries.
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Hans Dieter Potsch, chairman of the supervisory board of Volkswagen AG, said the investments will be focused on the future of mobility in all its key aspects and on the systematic implementation of Volkswagen’s strategy. “Our extremely solid and solid financial base allows us to finance the necessary investments ourselves. We are therefore also very confident that these investment decisions will lead the Volkswagen group to future success, â€he added.
The company also announced that a new electric PPE architecture will be exploited for two Porsche models. However, he didn’t mention a timeline for it. With the electrification of its Neckarsulm plant, the automaker wants to re-equip the next generation of Audi’s E6 model. He added that its fully electrified Brussels plant will start manufacturing the new Audi Q8 e-tron from 2026.
(Also read | Volkswagen to manufacture advanced chassis, steering system for future mobility)
Volkswagen CEO Herbert Diess said the company’s business model was changing dramatically. “Our goal is to create a sustainable site on an international scale with efficient group management, two power plants, as well as a state-of-the-art research and development center, and to establish and to expand into other forward-looking areas, â€he added.
Volkswagen also expects sales of fully electric vehicles to grow by around 25% by 2026.
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