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Volkswagen to unveil 70 electric vehicles and 60 hybrids by 2030

The Volkswagen Group intends to actively invest in electric cars, hybrid vehicles, and software development. The company announced this during the next round of financial planning.

The company's total capital investment is 150 billion euros. Volkswagen Group will spend 50% on improving technology, digitalization, and expanding eco-production. According to the plans, the brand will allocate 73 billion euros for all of the above needs within five years. The company will spend 35 billion euros on the manufacture of electric cars, 27 billion euros - on various digital technologies, including software development, 11 billion euros to create hybrid versions of existing car models.

By 2030, Volkswagen intends to launch 70 new electric vehicles, 20 of which are already in production, and 60 hybrid cars, 30 of which are currently on the market.

In terms of sales volume, the company plans to produce and sell 26 million electric vehicles by 2030, with 19 million of them based on its modular platform Modular Electric Drive Toolkit, and the remaining 7 million on the Premium Platform Electric platform. Volkswagen Group will put a new off-roader aimed at the European market on the assembly line in Wolfsburg. It will go on sale in 2024. The company will assemble an all-electric ID in Hanover. BUZZ as well as three all-electric D-SUV models for other brands of the automaker. In Emden, in addition to the ID.4, a four-door all-electric Volkswagen Aero is slated to be produced from 2023.