Volkswagen Group continues the electrification of its European plants and presents the transformation programme of Wolfsburg site, headquarters and manufacturing reference of the brand.
We are in the ambit of the Planning Round 70, with which the company further proceeds with the electrification of its European factories, to pursue the target of becoming top player in the global market of electric mobility by 2025.
With 56%, that is to say 89 billion Euros, for the first time future-oriented investments – which will mainly concern electric mobility and digitalization – will represent the share of overall investments, amounting to 159 billion Euros. Volkswagen Group foresees that within 2026 one vehicle out of four sold will be equipped with an electric battery propulsion system.
«The decisions approved – stated Hans Dieter Pötsch, President of the Supervisory Board of Volkswagen AG – today show with how much determination we are continuing the transformation of Volkswagen Group. Our investments will be focused on the future of mobility, in all of its fundamental aspects, and on the systematic implementation of the strategy. Our extremely robust and sound financial basis allows us to finance autonomously the necessary investments. For this reason as well, we are highly confident that these choices will lead Volkswagen Group to the future success ».
With the global shift to electric of its European factories, Volkswagen Group is going to generate further synergies and exploit scale economies. The Group will invest about 21 billion Euros in Lower Saxony plants; most of them will be addressed towards manufacturing sites and componentry plants.
