Volkswagen, j Already committed to spending billions and billions On the development of the electric car, it said on Friday that it plans to spend billions and billions more.
Volkswagen Group Said It will spend 73 billion euros (about half a billion dollars) – or half the money spent on European investments – over the next five years on electric powertrain technology, hybrid technology and other digital tech. The Ks0 billion euros Volkswagen Group said it would spend 10 per cent of last year’s or five-year plan budget.
Which is a statement of purpose and Volkswagen thinks things will go in the next decade. The Volkswagen Group has or holds major stakes in Udi D, Porsche, Scania, Skoda, Seat, Bentley, Bugatti and Lamborghini in addition to its brand name.
The Volkswagen Group said it would have 70 all-electric cars by 2030, and also said it expects to have built 26 million all-electric cars by that time, including 19 million on its mobile electric drive toolkit platform. Will include, M.E.B. Also known as. That platform is rapidly becoming the most important in Volkswagen’s history.
From Volkswagen’s release:
“After initially pursuing a course in battery-electric futures at the Volkswagen Group, we are now a global leader in our electric platform and a wide range of electric vehicles,” said Herbert Dice, Chief Executive Officer of the Volkswagen Group. “In the years to come, it will also be crucial to reach a leading position in car software software to meet the needs of people with personal, sustainable and fully connected mobility in the future. For that, we’ve doubled our digitization costs. “
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Software software, indeed, seems to be a big part of it. And I’m a little surprised that Volkswagen thinks it can compete on this front – carmakers generally better stick to what they know how to do well, what makes the car, and outsourcing the rest. – But it certainly looks like Volkswagen thinks it can compete on this front. In the case of Volkswagen, better software is also integral to its self-driving development.
Here are a few More from Automotive News:
The goal is to build a proprietary software software stack, which will be deployed in the Dina Artemis project to develop a state-of-the-art, self-driving electric vehicle by 2024.
The company’s own stake in the software will increase from 10 per cent to 60 per cent, VW said.
In addition, a large portion of the funds allocated for digitization will be invested in the mission-critical areas of artificial intelligence, autonomous driving and the digitization of significant business processes, the automaker said.
Jefferies analyst Philip Hawkois said the overall investment budget remained the same, while VW’s priorities included “meaningful redistribution of software and digitization and continued priority over Germany.”
To put this in a little more context: the Volkswagen group Said in late October That it made a profit of 3.2 billion euros in the third quarter of this year, and the epidemic is expected to remain profitable for the full year 2020. In other words, there are heavy bets on electric and self-driving tech. But Volkswagen makes them out of an already strong position.
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