The most popular automotive engines have been produced in the Volkswagen factory in Germany. Recently, some of its vehicles have lost market due to their high emission rates.
VW has committed to quadruple its investment in EV batteries and raw materials in order to gain an edge on the future market, as the global sales of combustion engines are expected to decline around 50% by 2035.
Further, they planned to transform their well-known factory in Salzgitter, Germany into an EV battery facility.
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| Volkswagen AG Salzgitter (source: VW Newsroom) |
In order to strengthen its position in the market, the automating company is to invest €180 billion (about $193 billion) over the next five years, according to VW.
In a bid to solidify its future dominance of the auto industry, Volkswagen wants to allocate 68% of the additional investment towards digitalization and electrification, up from previous intentions to allocate just 56%.
The VW Group maintained its lead in the BEV market in Europe with 572,100 deliveries last year, while sales in China, the world's largest EV market, rose by 68%. With a number of new models and projects planned for 2023, the automaker is eager to stay on track.
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| ID.4(source:VW) |
More significantly, the Volkswagen Group's order book now includes 16% of EVs, which reflects the rising demand for battery-powered, zero-emission vehicles.
The top-selling EVs of the VW Group include:
- VW ID.4/ ID.5: 193,200
- VW ID.3: 76,600
- ŠKODA Enyaq iV (incl. Coupé): 53,700