Volkswagen is to invest a further €34bn ($40bn) to speed development of electric vehicles (EVs), self-driving cars and other mobility services by the end of 2022. The investment is part of the German carmaker's attempt to become the world leader in electric mobility by 2025, said CEO Matthias Müller. Prior to a 2015 emissions scandal, VW had been slow to embrace electric and autonomous vehicle technology. In an interview with Reuters, Müller said: "We are going to be investing more than ever before into this new technology because we believe it will change our future for good."
Volkswagen is to invest a further €34bn ($40bn) to speed development of electric vehicles (EVs), self-driving cars and other mobility services by the end of 2022. The investment is part of the German carmaker's attempt to become the world leader in electric mobility by 2025, said CEO Matthias Müller. Prior to a 2015 emissions scandal, VW had been slow to embrace electric and autonomous vehicle technology. But now it has one of the most ambitious targets in the industry – aiming to offer an electric version of each of the group's 300 models by 2030.