Volkswagen plans to invest about 73 billion euros in e-mobility, hybrid technology, and digitization within the next five years, according to Reuters. The move comes as the company focuses on adapting to changes in the industry.
- Volkswagen will invest 35 billion euros of the planned spending on e-mobility and 11 billion euros for the development of new hybrid cars.
- The company will be spending 27 billion euros on digitalization, about twice as much as the previous planning period.
- “The transformation of the company and its brands as well as the strategic focus on the core mobility areas will be consistently implemented”-Hans Dieter Poetsch, supervisory board chief.
BMW stock is currently declining. BMW is down 0.41%
