The Volkswagen Group is aiming to further accelerate its electrification efforts with a commitment to invest €180 billion (£158bn) in the next five years, with the majority spent on electrification and software development.
The car giant – whose brands include Audi, Cupra, Porsche, Seat, Skoda and Volkswagen – sold 8.3 million vehicles in 2022, with 7% of those battery-electric. But 16% of its current order book of 1.8 million vehicles are EVs, and it anticipates that such models will account for a fifth of its global sales by 2025.
New Volkswagen Group CEO Oliver Blume has outlined a 10-point growth plan for the firm, which includes revamped product strategies for each of its brands and a major focus on electrification and software development.
The Group is currently developing the SSP, a software-heavy flexible architecture for EVs that will underpin the majority of its future EVs.
