Volkswagen to Triple Spending on Alt-Drive Tech
Photo courtesy of Volkswagen.
Volkswagen Group will invest nearly $10 billion in alternative drive technologies over the course of the next five years in order to expand its e-mobility market. This is three times the $3.3 billion the company invested in alt-drive technology over the past five years.
Efforts are already underway to try and achieve alternative technologies, however Volkswagen will continue to develope diesel and petrol engines, according to the automaker.
“This is how the group will be rolling out more than 10 new electrified models by the end of 2018. By 2025, we will be adding over 30 more BEVs," said Matthias Muller, CEO of Volkswagen AG.
Volkswagen's newly established Center of Excellence in Salzgitter, Germany, will also bundle group-wide competence in battery cells and modules, according to the automaker.