Volkswagen will revise upwards its investments in electric vehicles for the next few years.
Volkswagen passes the second. The global automotive giant has revised its investments in the electric market upwards, now planning an envelope of 180 billion euros for the next five years.
Volkswagen accelerates on batteries
The group is taking this strategic shift, because it believes that the transition from thermal to electric is taking place more quickly than it had anticipated. According to its latest forecast, one in five vehicles sold worldwide will be fully electric by 2025.
With this upward revision of the budget devoted to electricity, this segment will occupy 68% of Volkswagen’s new investments, against 56% according to previous plans.
One of Volkswagen’s major projects is the manufacture of its own electric batteries, which would allow it not to depend on external suppliers. His company PowerCo, in charge of this project, has also recently announced the establishment of a first plant outside of Europe, located in the province of Ontario, Canada, to strengthen its position in the market. North American.
The share of electric is growing rapidly
Volkswagen delivered 572,100 electric vehicles in 2022. It remains one of the major players in Europe and has experienced strong growth of 68% in China, a very important territory for car manufacturers. According to Oliver Blume, CEO of Volkswagen, battery electric vehicles accounted for 7% of the group’s total sales in 2022, which aims for a 10% share in 2023.
Electric even constitutes 16% of Volkswagen’s order book, which cannot respond quickly to all short-term demand, hence raising funds dedicated to this segment.
The ID.4/ID.5 are the group’s most popular models with 193,200 vehicles delivered in 2022. The performance of the ID.3 is also satisfactory with 76,600 units sold, while a new version is arriving this year . The ŠKODA Enyaq iV SUV completes the podium with 53,700 vehicles sold.
Source : Electrek
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