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VW, which has been shifting its focus towards electric cars since the "dieselgate" scandal, has recently announced its investment plan for the next five years. The company will allocate €180 billion between 2023 and 2027 to drive electrification. According to CEO Oliver Blume, two-thirds of the budget will be spent on battery production, software development, and sourcing key materials for the vehicles.
Just recently, VW announced that it will manufacture electric pickup trucks and SUVs in North Carolina, and its subsidiary PowerCo will establish its first North American battery plant in Canada. These moves are aimed at helping VW gain a foothold in North America and strengthen its competitiveness in China, which the company sees as its two most important markets. However, the challenges they face are significant.
It is worth noting that while VW is expanding its electric vehicle lineup, it will also continue to produce gasoline cars.