This money will be used to expand product lines, improve research and development and build new models in North America.
Over the next five-years, Volkswagen will invest $7.1 Billion in North America. This money will be used to expand the product range, research, development, and manufacturing. The goal of the automaker is to have 55 percent of all sales in America fully electric by 2030.
VW will be able to begin building the ID.4 in its Chattanooga facility, Tennessee, in 2022 thanks to this investment in manufacturing. The ID will be manufactured by the automaker. The automaker will also build the ID.
To produce electric vehicles, the automaker will invest in Mexico’s Puebla and Silao plants.
VW plans to construct a factory for battery cell production in the USA. According to this announcement, the final decision on it will be made in 2022.
This region will be home to body and interior engineering, as well as design and development of vehicles for North America by 2030. The company will also invest $22,000,000 in Chattanooga’s battery engineering laboratory, where it will validate and test batteries for North American models.
Volkswagen will invest EUR2Billion to build a new factory close to its main Wolfsburg plant. This site will construct the electric model that stems from its Trinity project. Construction will start in spring 2023. The plant is expected to produce a complete car in about 10 hours, which is roughly half the time it takes to make a current product.
At this point, only a few details are available. It will be capable to autonomous driving level 4 and will feature a brand new design language. The first model to use these innovations will cost around EUR35,000 . According to reports, charging is faster than refueling a combustion motor.