Volkswagen just announced that it will spend 180 billion Euros in its business between now and 2027, with the vast majority of that earmarked for"electrification and digitization." If that sounds like a lot, it is. The figure is significantly greater than what other automakers have thrown into EVs.
That means the company will have a roughly $120 billion war chest to spend on converting its lineup to a highly digital, all-electric fleet. That's a staggering number, and more than double what Ford has set aside for its EV plans. The Blue Oval has committed
VW seems particularly inefficient in their use of money for EV’s. They have spent billions and have a rather lackluster EV product line to show for it. Hyundai/Kia is doing much better.
Could it be that the trigger for this decision - the European ban on internal combustion vehicles - is just beginning to evaporate?
Well, if they think they need to… good luck. Everybody else seems to be future ready without having to spend absurd sums like this. Pretty much like the Germans state than. Hopefully with more success.
Legacy OEMs will never get it. It’s NOT about the budget!! Nor the vehicle! 2 recommendations:1-Train new managers to teach engineers how to work in the new startup world 2-Understand why people buy Iphone instead of Samsung tesla startup ElectricVehicles ev ElonMusk