Volkswagen invests 50 billion US dollars to promote car electrification

Abstract Diss confidently stated that "the public will become the most profitable company in the field of electric vehicles." Behind this self-confidence is the huge investment of the Volkswagen Group in the next five years in terms of electrification, automation and networking: Volkswagen will invest 44 billion euros by 2023.

Diss confidently stated that "the public will become the most profitable company in the field of electric vehicles." Behind this self-confidence is Volkswagen's huge investment in electrification, automation and networking in the next five years: Volkswagen will invest 44 billion euros (about 50 billion US dollars) by 2023 to promote More than 50 pure electric vehicles were born in 2025.

According to the comprehensive daily report of the Economic Daily, "sensible cars, high economies of scale, I think we will become the most profitable company in the field of electric vehicles," Herbert Diess, the new CEO of the Volkswagen Group, said with confidence.

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Herbert Diss

Behind this confidence of Diss is the huge investment of the Volkswagen Group in the next five years for electrification, automation and networking. Last Friday (November 16), the Volkswagen Group Supervisory Board voted to pass the capital expenditure plan for large-scale production of electric vehicles in Europe. According to the plan, Volkswagen will invest 44 billion euros (about 50 billion US dollars) by 2023 to promote more than 50 pure electric vehicles in 2025. This investment is 10 billion euros more than last year's plan.

Some analysts pointed out that this huge investment plan is the most radical strategy of the Volkswagen Group since the exposure of the “emissions gate” in 2015.

In addition to increasing capital investment, the Volkswagen Group is still renovating its original factory. It is reported that Volkswagen management is currently considering the transformation of the three factories in Zwickau, Emden and Hanover to produce electric vehicles. At the press conference held in Wolfsburg, Germany, Diss said bluntly, "The mass production of electric vehicles by Volkswagen Group will help the public to reduce the cost of electric vehicles to the same level as existing diesel vehicles."

Previously, the Volkswagen Group has publicly stated on many occasions that by the end of 2022, the company plans to build 27 electric vehicles based on its MEB platform, and the sales of electric vehicles in the world will reach 10 million.

As the Volkswagen brand's first economical electric car, the IDNeo hatchback will be rolled out at the Zwei Kao factory in 2019; by then, the electric power production capacity of the Zwickau factory will reach 330,000. In addition, the Volkswagen Group will also launch high-end pure electric Porsche and Audi models, and will start selling next year to catch up with Tesla.

Based on the production of different brands of electric vehicles on the same production line, Volkswagen Group plans to increase the productivity of the factory by 30% by 2015; this will also help the Volkswagen Group to reduce the proportion of capital expenditure in the automotive sector to total revenue from 2020. %.

In fact, the Volkswagen Group's MEB platform has also received the attention of Ford. At present, Volkswagen and Fukuda are conducting exploratory negotiations on joint development of content such as autonomous driving and electric vehicles. Diss hopes that the two sides will reach an outline agreement by the end of this year, the initial focus is on commercial vehicles. "Our two companies complement each other in terms of products and regions. Joint development and production of a series of light commercial vehicles is the core of the vision cooperation."

"The alliance between the two sides will have significant synergies," said Diss. "The future is likely to develop the next generation Amarok pickups and more SUV models." However, Diss denied that the Volkswagen Group would integrate Ford's conjecture, and also said that it did not activate the acquisition of Ford's stock.

While Diss is pushing the transformation of the Volkswagen Group, there are also analysts who believe that this change will lead to substantial layoffs. ING analysts point out that a fuel car has 1,400 components in its engine, exhaust system and transmission system, while an electric car has only 200 components in its battery and engine, which puts employees at risk.

Because of concerns about the reduction of employment, the trade union with half of the Volkswagen Supervisory Board signed an agreement with the group to reach the annual production capacity of 1 million electric vehicles by 2025.

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