Volkswagen to spend $50 billion on electric car ‘offensive’

London (CNN Business)Volkswagen has committed to spending tens of billions of dollars as part of a dramatic shift to electric and autonomous vehicles.

The Germany carmaker said Friday that it would invest €44 billion ($50 billion) by 2023 to develop electric cars, self-driving vehicles and other new technology.
Speaking at a press conference following a meeting of the company’s supervisory board, CEO Herbert Diess described the company’s strategy as an “electric offensive.”

Add a Comment

Your email address will not be published. Required fields are marked *

error: Content is protected !!