Volkswagen accelerates push into electric cars with $40 billion spending plan [Reuters (UK)]
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Source: Reuters
Volkswagen accelerates push into electric cars with $40 billion spending plan | Reuters 5 Min Read WOLFSBURG/HAMBURG (Reuters) - Volkswagen ( VOWG_p.DE ) approved a 34 billion euro ($40 bln) spending plan on Friday that accelerates its efforts to become a global leader in electric cars. The world’s largest carmaker by unit sales will spend the money on electric cars, autonomous driving and new mobility services by the end of 2022, it said after a meeting of its supervisory board. “With the planning round now approved, we are laying the foundation for making Volkswagen the world’s No. 1 player in electric mobility by 2025,” Chief Executive Matthias Mueller told a press conference. The carmaker’s projected spending is significantly bigger than its pledge two months ago that it would invest more than 20 billion euros on electric and self-driving cars through 2030. Electric and autonomous vehicles are widely seen as the keystones of future transport, but pioneers such as Tesla Inc and o
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