Volkswagen Group is investing heavily on electric vehicles, investing more than $7 billion in North America within the next five years.
Systematic electrification of the product line is highlighted in the Volkswagen Group‘s investment program for the years 2022 to 2026, which was revealed in December. In comparison to earlier planning, these plans call for a 50 percent increase in capital outlay and progress costs for e-mobility, totaling €52 billion.
Spectacularly, VW is investing heavily on electric vehicles, investing more than $7 billion in North America within the next five years to “boost its product assortment, regional R&D, and production capabilities,” according to the group.
The worthwhile news is that Volkswagen is becoming electric-only in America, and gasoline-powered vehicles will be phased out of the range. This will not happen immediately, but the business “plans to leave [ICE] sales at the start of the next couple of ten years.” This, predictably, necessitates a variety of new EVs, some of which will be manufactured in the United States.
The ID.4 will be built at the company’s Chattanooga, Tennessee plant in the second quarter of 2022, as previously reported. The ID. Buzz will then be built in America having started in 2024, with “new electric SUVs” following in 2026. Through 2030, VW Group brands will launch well over 25 new electric vehicles to American consumers.
Volkswagen is also concentrating on American customers, with the target of “localizing all primary design and engineering responsibility for the products destined for the domestic markets by 2030.” This “strategy emphasizes the firm’s focus on American consumer demands, while growing Volkswagen Group’s global automobile” according to the company. In effect, it appears that future models will be built on a worldwide design but will have unique interior and exterior aesthetics to appeal to Americans.