Currently reading: Volkswagen Group to invest £158bn in EVs over next five years

Of the huge spend, £13.2bn is earmarked for building new PowerCo battery factory in Salzgitter, Germany

The Volkswagen Group is aiming to further accelerate its electrification efforts with a commitment to invest €180 billion (£158bn) in the next five years, with the majority spent on electrification and software development.

The car giant – whose brands include Audi, Cupra, Porsche, SeatSkoda and Volkswagen – sold 8.3 million vehicles in 2022, with 7% of those battery-electric. But 16% of its current order book of 1.8

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