The massive investment of $66 billion will be spent on electrifying and digitizing the group’s cars between 2020 and 2024. Of this total, 33% will go directly to electric vehicles, 27% to plug-in hybrids and digital systems, and 40% to product research and development.
The meeting that defined this investment predicts that, by 2029, the Volkswagen group will have no less than 75 electric models and 60 plug-in hybrids. The company also projects that electric cars will total 26 million in the period, of which 6 million will be plug-in hybrids.
Of the number of VW’s electric cars, all will be built on the modular MEB platform, while the rest will be made on the PPE or High-Performance Platform, as the company calls this architecture. In Europe, the production is in Germany at the Zwickau, Emden, Hannover, Zuffenhausen, and Dresden factories.