Volkswagen To Invest $7.1 Billion USD in North American Production, Focusing on EVs

Over the next five years.

Automotive
1.0K 0 Comments

Volkswagen will invest an additional $7.1 billion USD into its North American production over the next five years, the company announced on Monday. The automaker is aiming to add 25 new electric vehicles in the region by 2030, including an updated version of VW’s classic Microbus.

The company plans to allocate the funds to “[boosting] its product portfolio, regional R&D and manufacturing capabilities,” according to a release. The new aforementioned Microbus model, dubbed the ID.Buzz, will first be imported from VW’s Hanover base in Germany, before American assembly plants will be able to produce the vehicle in 2024, according to VW’s president and CEO Scott Keogh via Reuters.

In addition to the ID.Buzz, Volkswagen plans to produce the ID.4 in 2022, and a yet-to-be-announced SUV in 2026. Ahead of the ID.4’s launch, Volkswagen has already invested more than $2.7 billion USD in North American battery supplier partnerships and will open its Battery Engineering Lab (BEL) in Chattanooga this May.

Volkswagen estimates that 90% of its North American cars are already produced in the region. Additionally, its Chattanooga factories have already started transitioning to electrification assemblies, while its facilities in Pueblo and Silao, Mexico will join by 2025.

The automaker expects at least 50% of its U.S. vehicle sales and at least 70% of its European sales to be electric by 2030, Keogh said.

Elsewhere in automotive, Acura has revealed an overwhelming demand for manual transmission 2023 Integra.

Read Full Article

What to Read Next

Michael B. Jordan and Yahya Abdul-Mateen II To Star in Amazon Thriller ‘I Helped Destroy People’
Entertainment

Michael B. Jordan and Yahya Abdul-Mateen II To Star in Amazon Thriller ‘I Helped Destroy People’

Based on a 2021 ‘New York Times’ article.

8 Things to Expect in 'Ghostwire: Tokyo'
Gaming

8 Things to Expect in 'Ghostwire: Tokyo'

Presented by PlayStation®
Launching March 25, the highly-anticipated game combines rich Japanese mythology with heart-pounding action.

DRIVERS: Jhonnattan Castro and His 2022 Toyota GR86
Automotive 

DRIVERS: Jhonnattan Castro and His 2022 Toyota GR86

Presented by Toyota
The professional drift racer favors the coupe for its versatility, straight from the factory.

Pusha T Drops Diss Track Aimed at McDonald's for Arby's Spicy Fish Commercial
Music

Pusha T Drops Diss Track Aimed at McDonald's for Arby's Spicy Fish Commercial

“A little cube of fish from a clown is basic.”

KATSU Releases Swarm of 5,432 Drones into the Metaverse
Art

KATSU Releases Swarm of 5,432 Drones into the Metaverse

A unique NFT project where holders work together to create a digital painting to be auctioned.


A New ‘Witcher’ Video Game Saga Is in the Works
Gaming

A New ‘Witcher’ Video Game Saga Is in the Works

Developed by CD Projekt Red.

Jacob & Co Honors Bugatti Legend With $250,000 USD Twin Retrograde Chronograph
Watches

Jacob & Co Honors Bugatti Legend With $250,000 USD Twin Retrograde Chronograph

The brand describes the watch as its most demanding piece of watchmaking so far.

Naomi Osaka Becomes Global Ambassador for Crypto Firm FTX
Tech & Gadgets

Naomi Osaka Becomes Global Ambassador for Crypto Firm FTX

In an effort to bring more women onto the platform.

Rick Owens Releases $3,990 USD Fog Machine Coffee Table
Design

Rick Owens Releases $3,990 USD Fog Machine Coffee Table

As well as a mini fog machine box and a handheld version inspired by SS22’s “FOGACHINE” runway show.

fragment design x Tokyo Drive Car Club Team Up for the “SUV ONLY” Car Bag
Design

fragment design x Tokyo Drive Car Club Team Up for the “SUV ONLY” Car Bag

Designed for organizing a car trunk.

More ▾