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Volkswagen ramps up e-mobility spending to $59 billion by 2026 -Breaking

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© Reuters. FILE PHOTO: A emblem of German carmaker Volkswagen is seen on a automobile parked on a avenue in Paris, France, July 9, 2020. REUTERS/Christian Hartmann

FRANKFURT (Reuters) – Volkswagen (DE:) on Thursday stated it will ramp up spending for battery-powered electrical automobiles by round 50% to 52 billion euros ($59 billion) by 2026 as a part of the group’s far-reaching transformation.

The funding is a part of Volkswagen’s new revolving 5-year spending plan, which foresees whole investments of 159 billion euros within the 2022-2026 interval, in contrast with 150 billion for the 2021-2025 interval.

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