Volkswagen’s Bold Move: Investing $193 Billion In Accelerating Electrification Revolution
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Volkswagen plans to invest $193 billion over the next five years in areas including battery production and its North American operations, though the pace of spending will fall from 2025, in the video published on March 14, 2023, by Reuters, as “Volkswagen to invest $193 billion to hit EV target“, below:
Many automakers are committing to an all electric fleet in the future. Volkswagen is the latest addition to this list of growing EV manufacturers. Volkswagen plans to transition to an Electric Only fleet by as early as 2033 in Europe, in the video published on March 17, 2023, by Auto Tech, as “Volkswagen’s Electric-Only Move in Europe Explained!” below:
Volkswagen AG is bolstering a push to challenge Tesla Inc.’s leadership on electric vehicles by raising its five-year spending plan to 180 billion ($193 billion). Volkswagen CFO Arno Antlitz provides details of the plan in a conversation with Bloomberg’s Oliver Crook, in the video published on March 14, 2023, by Bloomberg Television, as “VS’s EV Efforts Get 180 Billion Spending Boost“, below:
Volkswagen announced on Tuesday that it plans to invest €180 billion ($193 billion) over the next five years to reduce electric vehicle costs and protect its position in the market. Over two-thirds of this budget will be allocated to electrification and digitization, with up to €15 billion ($16 billion) reserved for batteries and raw materials. The company’s CFO, Arno Antlitz, stated that some battery investments may be delayed if the market does not grow as expected. On Monday, Volkswagen announced that the company’s first battery cell factory in North America will be in Canada, with production starting in 2027. The automaker is seeking to expand its share of the electric car market, including the launch of an affordable electric vehicle by 2025. Volkswagen is also finalizing high-performance software to improve its software operations. The company released its annual report on Tuesday, which revealed that its software unit, Cariad, exceeded its budget and fell short of its goals. Volkswagen will share the results of a “virtual equity story” exercise in June, which could result in the listing of its PowerCo battery unit on the stock market. The automaker forecasts a 10% to 15% increase in revenue with 14% higher deliveries next year, in the video published on March 14, 2023, by News Central Station, as “Volkswagen to Invest E180 Billion in Electric Cars and Digitalization Batteries, Software, PowerCo.”, below:
Volkswagen picks Canada over Oklahoma for new battery plant Stay informed about Oklahoma news and weather! Follow KFOR News 4 on our website and social channels, in the video published on March 16, 2023, by KFOR Oklahoma’s News 4, as “Volkswagen picks Canada over Oklahoma for new battery plant“, below:
Volkswagen has announced its plans to build its first overseas electric vehicle battery plant in southwestern Ontario. The company said production is set to begin in 2027, calling it its first overseas ‘gigafactory’ for battery cell manufacturing, in the video published on March 13, 2023, by CBC News, as “Volkswagen building first overseas EV battery plant in Ontario“, below:
Gathered, written, and posted by Windermere Sun-Susan Sun Nunamaker More about the community at www.WindermereSun.com
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