VW Invests Extensively in Digitalization and Electrification

by | 14. Mar 2023 - 12:38 | Economy

Volkswagen was able to increase sales of battery electric vehicles by 26 percent in 2022, becoming the European market leader in this sector. The company made the announcement on Tuesday when it presented its figures for fiscal 2022. 2023 will be a decisive year for implementing strategic goals and accelerating the group’s progress, CEO Oliver Blume said. VW plans to invest primarily in digitalization and electrification. 68 percent of the total investment of 180 billion euros between 2023 and 2027 is earmarked for these areas. Up to 15 billion of this has been planned for the construction of cell factories for the battery start-up PowerCo and upfront investments to secure its raw materials.

In 2022, the Wolfsburg-based automaker could sell 8.5 vehicles and generate sales of 279 billion euros.

Photo: iStock/Ivan Kyryk

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