Mexican Media Brands
VW Hikes Tech Spending 29% to €44 Billion
Volkswagen AG says it intends to spend nearly €44 billion ($50.2 billion) by 2023 on electrification, autonomous driving, mobility services and the digitization of its vehicles and plants.
Share
Volkswagen AG says it intends to spend nearly €44 billion ($50.2 billion) by 2023 on electrification, autonomous driving, mobility services and the digitization of its vehicles and plants.
The new budget compares with €34 billion allocated a year ago for those areas. VW also believes it can boost productivity at its assembly plants 30% by 2025 by sharing the same production lines with multiple brands.
The company’s first wave of all-electric models will debut in 2019 with high-end models under the Audi and Porsche brands. VW’s mainstream “I.D.” line of EVs will present its first car in 2020.
CEO Herbert Diess says additional goals are to improve the profitability of each of its brands, accelerate the coverall pace of innovation and lower its ratios of spending on capital investments and research to a “competitive” 6% by 2020.
Diess also says partnerships will play a significant role in the company’s plans. He signals a pending agreement with Ford, noting that the two companies complement each other well in terms of markets and products.
RELATED CONTENT
-
Things to Know About Cam Grinding
By James Gaffney, Product Engineer, Precision Grinding and Patrick D. Redington, Manager, Precision Grinding Business Unit, Norton Company (Worcester, MA)
-
On Fuel Cells, Battery Enclosures, and Lucid Air
A skateboard for fuel cells, building a better battery enclosure, what ADAS does, a big engine for boats, the curious case of lean production, what drivers think, and why Lucid is remarkable
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
