Company CEO claims huge investment will lead to it 'reinventing the car'
James Attwood, digital editor
17 November 2017

The Volkswagen Group will invest more than £30billion in developing future technology including electric cars and autonomous driving systems in the next five years – with the firm’s boss claiming it is “reinventing the car.”

The investment in electric mobility, autonomous systems, new mobility services and digitisation was agreed in the VW Group Supervisory Board’s planning round for 2018 until 2022. The bulk of the £30bn will go towards autonomous tech and the electrification of the Group’s entire model line-up, an initiative announced at the Frankfurt motor show in September.

Exclusive interview: VW Group boss Muller on dieselgate and future plans

“We are laying the foundations for making Volkswagen the world’s number one player in electric mobility by 2025,” said VW Group CEO Matthias Muller. “We are reinventing the car.“We are making targeted investments in digitalisation, autonomous driving, electric mobility and new mobility services by providing the necessary funds from our own resources.”

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The VW Group has pledged to electrify its entire model range – with at least one electric variant of every car – by 2030. To achieve that, the firm expects to spend more than £44.6bn on battery cells.

In the next five years, the firm will also alter its production network. Those moves will include the Volkswagen plant at Zwickau in Germany being converted into a pure e-mobility facility, building the European series of full-electric vehicles on the firm’s MEB electric platform.

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Notably, the £30bn investment plan does not include the Chinese market - which the Group cites alongside Brazil, Russia and North America as key to its future growth plans. Volkswagen has a number of joint ventures in China, and investment funding is considered separately.

Read more

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Comments
6

17 November 2017

So - Tesla, who will be 10 YEARS ahead of VW by the time they finally deliver something comparable gets an article slating them in Autocar. And then a company, no different to any other automotive, turn up so late gets described as reinventing the car. Truly shocking bias from Autocar.

Cheap journalism that really is starting to turn a long time subscriber off. Seems like only Car offers quality journalism nowadays - a sad state of affairs.

Lotus Evora 400

17 November 2017

Utter rubbish, how much did BMW invest to bring the i8 and even more intelligent i3 to the market?

17 November 2017

I've in idea. If Tesla are going to be ten years ahead of everyone else in the car business, shouldn't everyone else just give up? Obviously making a car and sticking a big battery in it is an unsurmoutable achievement. Every other car maker to have a mass issuance of P45s then, and we can all go and worship at the altar of St Elon while daily watching the sun rise from his nether regions.

17 November 2017
Yawn yawn yawn.

These endless crowd-following autonomy/electric stories are boring and sad in equal measure.

18 November 2017

You shouldn't even write the quote when someone says something like "reinventing the car".  It's a crass and absurd statement to make, and doesn'' deserve quoting.  Car design (and powertrain) is evolving - it's as simple as that.  Don't repeat, verbatim, utterences that are just plain daft. 

18 November 2017
If Volkswagen does anything admirable, it is indeed their collaboration with the car journalists. We have been listening to VW spending a gazillion billion on electric power train for years now without them putting anything half respectable on the road. Albeit whatever they manage to put on the road gets a surprising amount of praise from the most obedient journalists. Let's brace up for years more of pure PR BS from the car maker whose sole talent is spreading NOX lies. Enough talking the talk, Mr Muller. Now walk the walk or else take a walk.

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