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Volkswagen to spend 44 billion euros on electric, autonomous cars by 2023

November 16, 2018 1:42 PM
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WOLFSBURG, Germany (Reuters) - Volkswagen (VOWG_p.DE) on Friday said it will spend 44 billion euros on electric cars, digitalization, autonomous driving and new mobility services by 2023 as part of a push by Europe’s largest carmaker to mass produce electric cars.

The carmaker also plans to increase productivity of its factories by 30 percent by 2025, by building more vehicles with different brands on the same production line, it said.

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