Volkswagen announced that they have invested 73 billion in the technologies of the future. The total share of investments made for future technologies has been increased from 40 percent to approximately 50 percent within a total of 150 billion Euros.
Electric and autonomous vehicles, innovative products produced with developing software technologies are some of the future requirements of the industry. It is seen that automotive players are in serious competition in the technology lane. We can say that technology giants Apple and Google are blinking into the automotive industry and there will be a market with autonomous vehicles in the future.
With these investments, VW is rapidly moving towards becoming a digital mobility company. Volkswagen‘s future plan investment states in the information shared after the board of directors meeting, investments made in future technologies are the cornerstones to secure the future. German automotive giant Volkswagen will spend about 73 billion Euros on electrification, hybrid power and digital technology in the next five years.
It allocated 27 billion Euros to developing software power for the future and approximately 35 billion Euros to electric vehicles. It announced that it will invest approximately 11 billion Euros in total for the development of hybrid vehicles of existing models and a total of 72 billion Euros. Volkswagen is looking for new battery technologies The light and long-range battery that many electric vehicle manufacturers are looking for.
Last week, we reported that Apple is working on new battery technology and will enter electric vehicle production. In line with this need, the German company will set up a cell production facility that will start operating in 2024 for strategically important battery technology with the support of investments and will increase Germany’s competitiveness as an industrial location.
At the same time, the strategy of combining product diversity in factories will continue to take advantage of more synergies between brands and achieve greater efficiency gains.