Volkswagen's £76 Billion Electrification Strategy

Volkswagen’s £76 Billion Electrification Strategy

Volkswagen's £76 Billion Electrification Strategy

Volkswagen has shed light on its latest electrification plan, which will see it spend a massive £76 billion on developing electric vehicles…

VW’s Electrification Master Plan 

Volkswagen has announced that it intends to render a quarter of its global sales all-electric by 2026. In order to get there, it’ll be spending £76 billion in developing the necessary technology. In addition, it’ll also be reformatting a number of its factories for the production of EVs; including those situated in Hanover and Wolfsburg, both of which are situated in Lower Saxony.

The German automotive giant had previously announced that it’d be producing its ‘Project Trinity’ model at a new production line in Wolfsburg from 2026. Moreover, it also intends to retool a production site at the facility in order to ramp up production of its flagship ID.3 EV. A second vast EV manufacturing facility is also due to open at Wolfsburg by 2030.

A Crucial Step 

Electrification represents both a major opportunity and challenge for practically all automotive companies. However, for Volkswagen the issue is, essentially, existential. It was, after all, at the heart of the now infamous Dieselgate scandal; having deliberately obscured just how polluting many of its ICE models really were for years. The scandal severely damaged Volkswagen’s reputation, and cost it billions in legal fees and compensation.

The firm’s ability to boldly implement electrification, then, is a question of rebuilding the company’s reputation in an increasingly environmentally-conscious world. No one can deny, however, just how much money and resources the automaker is putting into its electric vehicles. Indeed, in many respects only Tesla is further ahead in terms of research and development. With its experience, manpower and capital, it’s possible Volkswagen could very much have gone from EV zero to hero over the next decade.

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