Volkswagen will invest € 60 billion by 2024 to develop “the car of the future”. The German auto giant announced it on Friday. The figure is 16 billion higher than last year.
Of the 60 billion, 33 will be reserved exclusively for electric cars. As a result, the percentage of investments dedicated to electric motor vehicles will rise from the 30% indicated last year to 40%.
In this context, the US they represent a fundamental market for the German company. Volkswagen, in fact, has also announced an investment of 800 million dollars (about 727 million euros) to expand its facility in Chattanooga, Tennessee, which will become the North American headquarters for the production of electric cars.
In the plant it will be produced from 2022 the ID.4, using the same assembly line as the Atlas, Atlas Cross Sport and Passat thermal cars. A new battery pack assembly plant will also be built in the same factory.
