The company’s decision to proceed with the investments will feature a doubling in spending on digitalissation to€27 billion by 2025, approximately €35 to be spent on battery electric vehicles, and a further €11 billion pushed into the development of hybrid vehicles of existing models.Volkswagen’s new investments are part of the company’s larger commitment to the Paris Climate Agreement and its target of becoming climate neutral by 2050.Volkswagen has committed to launch approximately 70 all-electric vehicles by 2030, of which 20 are already in production. The company plans around 60 hybrids by the end of the decade, with just over half already being manufactured. QUOTE.The EV market is now firmly established with a number of companies competing for a share of this burgeoning industry IMO.
