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Volkswagen to Invest $193 Billion Over 5 Years to Help the Environment

Volkswagen has allocated over two-thirds of its five-year investment budget towards electrification and digitalization as it aims to achieve 50% electric vehicle sales globally by 2030. The latest investment plan includes 15 billion euros for battery plants and raw materials, with the company prioritizing securing the raw materials it needs and then building new sites. The car maker is expected to provide an update on how it will improve operations at its software unit Cariad, which suffered an operating loss of 2.1 billion euros in 2022 on revenue of 800 million euros.

Photo Credit: Julian Hochgesang

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