Volkswagen is planning to take the car market by storm with cheaper mass-market electric model

by I'm Struggling

vw id vizzionAP Photo/Andy Wong

Volkswagen is planning to invest 44 billion euros ($50 billion USD) in developing autonomous and eletric cars.
It also plans to sell its upcoming ID compact for about what a diesel-powered Golf costs, in an effort to expand the appeal of battery-powered cars.
Chairman Hans Dieter Poetsch says the company’s aim in the next 5 years is to make VW “a worldwide supplier of sustainable mobility.”

FRANKFURT, Germany (AP) — Volkswagen intends to invest 44 billion euros ($50 billion) in the electric and autonomous car technologies expected to reshape the industry — and said it would make battery-powered vehicles more accessible to mass-market auto buyers by selling its new I.D. compact for about what a Golf diesel costs.

The investment plans for the next five years aim to make Volkswagen “a worldwide supplier of sustainable mobility,” Chairman Hans Dieter Poetsch said Friday. He added that the company is in talks with Ford about possible cooperation in making light commercial vehicles.See the rest of the story at Business Insider

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