The hottest Volkswagen launched a $50billion devel

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Volkswagen launched a $50billion development plan focusing on electrification/driverless/mobile travel

[global synthesis report] according to Reuters, Volkswagen CEO Herbert diess said that thanks to the investment of tens of billions of dollars in the large-scale development of battery electric vehicles and the scale effect, Volkswagen is expected to become the most profitable automaker in the field of electric vehicles

Volkswagen announced that it would invest a total of $50billion to develop electric vehicles, driverless and new mobile travel services by 2023, and increase cooperation with imported experimental machines, which account for a part of Ford vehicles

Volkswagen and Ford initially focused on commercial vehicles. Dis hoped to reach a substantial cooperation agreement framework with Ford by the end of this year, but he also said that Volkswagen had no intention of merging or acquiring its shares with Ford. At the press conference held at Volkswagen headquarters in Wolfsburg, Germany, on the 16th, dis said that mass production of electric vehicles could enable the company to reduce the production cost of electric vehicles to the current level of diesel vehicles. He said: our cars are exciting and have significant economies of scale. I think Volkswagen will become the most profitable electric vehicle manufacturer

the VW board of supervisors voted to approve a long-term capital expenditure plan for the mass production of electric vehicles in Europe, which is also the most radical decision-making adjustment since the exposure of Volkswagen diesel vehicle emissions fraud in 2015. Volkswagen will restructure three German car manufacturers to produce electric vehicles, and discuss the establishment of alliances with electric vehicle battery partners and other car companies, the interim report added

in addition, by 2025, Volkswagen plans to increase its productivity by 30% by producing cars of different brands on the same production line. It also hopes that after 2020, the proportion of research and development expenses of Volkswagen brands can be reduced to 6% of the total revenue of the Automobile Department of the whole group with a year-on-year increase of 8.64%. Dis said: in order to provide financial support for future huge expenditures and maintain competitiveness, the public must be more efficient and further improve productivity and profitability

(internship compiled by: Zhang Yanfei reviewed by: Liu Yang)

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