As Volkswagen (VW) looks ahead to the future, one thing is clear: the German automaker is committed to electrification. In fact, VW CEO Herbert Diess recently announced that the company plans to become carbon neutral by 2050, and that by 2028, it aims to sell as many as 22 million electric vehicles (EVs).
But VW’s road to electrification hasn’t been without its setbacks, particularly when it comes to the massive diesel emissions scandal that rocked the company in 2015. Since then, VW has been working to rebuild its reputation and regain consumer trust. So, what does the future hold for VW’s business strategy? Let’s take a closer look.
First, let’s examine VW’s electric vehicle plans. The company is investing heavily in EV technology, and its first dedicated electric model, the ID.3, is set to hit the market in late 2020. The ID.3 will be followed by the ID.4, a crossover SUV, in 2021. VW is also working on a range of other EV models, including the ID. Buzz, a modern take on the iconic VW Microbus, and the ID. Space Vizzion, a sleek electric wagon.
To support its EV efforts, VW is investing nearly $66 billion in research and development over the next five years. The company is also partnering with other automakers and technology companies on initiatives like battery development, charging infrastructure, and autonomous driving.
Another key component of VW’s business strategy is its focus on digitalization. The company aims to become a software-driven automaker, with a range of connected services and digital features offered in its vehicles. VW already offers a range of these services, including mobile app integration, in-car Wi-Fi, and over-the-air updates.
In addition to its digital efforts, VW is also continuing to invest in its core business areas, particularly in China and other emerging markets. The company has plans to open new factories and expand its production capacity in regions with high growth potential.
It’s worth noting that VW’s ambitious plans for electrification and digitalization come with significant challenges. The company will need to navigate a rapidly changing automotive landscape, with new players like Tesla and Uber shaking up the industry. In addition, the transition to EVs will require significant investment in battery technology and charging infrastructure.
Overall, VW seems determined to lead the way in the shift towards electrification and embrace the opportunities presented by digitalization. The company’s commitment to these strategies is evidenced by its significant investments and ambitious targets. However, whether VW can successfully navigate the challenges ahead remains to be seen.
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