VW Group: investments in electric vehicles make up one third of the total volume of all investments

The financial holding company Porsche SE, which owns the Volkswagen Group and all its brands, including Audi and Porsche, said that investment in electric vehicles make up one third of the total amount of all its investments.

Philipp von Hagen (Philipp von Hagen), Board member of Porsche SE, at the Bloomberg NEF summit in San Francisco shared their opinions about electric cars, voicing how much the company has invested in electric cars. By 2024, Volkswagen has allocated $ 50 billion to electric vehicles, Autonomous driving and mobility, which is one third of all investments of the company in the next five years.

Often there is information about the millions of dollars that the company earns on electrification, but it is rare to hear that automakers are investing heavily in technology. You will not see information about how much each company has invested in electric cars and other new technologies.

Earlier, the head of Volkswagen of America said that Tesla controls 50% of the market of electric vehicles, we want the second half.

Von Hagen announced that by the end of 2030, the world will see 50 new electric vehicles from Porsche SE and its brands in addition to the 300 models (not electric) that the company produces now.

When Hagen at the summit asked about the risks faced by VW when investing in electrification, he said: “I really believe that electrification improves vehicle available to consumers, but will people buy electric cars?”.

Recall that Volkswagen is preparing to manufacture electric cars on the basis of the MEB 8 plants.

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