Volkswagen announces five-year $193 billion investment plan as electrification gathers pace

Volkswagen announces five-year $193 billion investment plan as electrification gathers pace

Covering an area of 6.5 million square meters, VW’s huge manufacturing facility in Wolfsburg uses two cogeneration plants that provide it with heat and power.

Krisztian Bocsi | Bloomberg | Getty Images

Volkswagen on Tuesday announced plans to invest 180 billion euros ($192.6 billion) between 2023 and 2027, with more than two thirds targeting “electrification and digitalization.”

This is a breaking news story and will be updated shortly.

(With Inputs from cnbc)

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