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1ST LEAD E-cars focus of VW's 70-billion-euro investment plan By Andrew McCathie, dpa

Europe
17.11.2017
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Berlin (dpa) - German carmaker Volkswagen launched a new five-year 70-billion-euro (83 billion-dollar) investment programme on Friday aimed at developing new technologies as the auto industry moves to keep pace with the global push towards electric-powered vehicles.

The world‘s biggest carmaker presented the plan, which includes spending more than 34 million billion euros on electric vehicles, driverless cars, and digitalization, to a meeting of its board on Friday.

The VW announcement comes as the carmaker attempts to lay aside the emissions scandal that engulfed the group more than two years ago when it admitted to cheating on diesel exhaust tests around the world.

"Roadmap E", as the company has called the investment plan, would help to "reinvent the car," said VW chief Matthias Mueller.

VW‘s plant in the eastern German city of Zwickau would now become the focus of the group‘s efforts at building up its electric car range.

The group has already announced moves to bring more than 80 new electricity-powered vehicles onto the market by 2025, including 50 pure electric cars and 30 plug-in hybrid models.

 

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