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Volkswagen boosts investment in electric, autonomous car tech to $86 bn

Volkswagen said it would allocate nearly half its investment budget of 150 billion euros on e-mobility, hybrid cars, a seamless, software-based vehicle operating system

Volkswagen
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Volkswagen has said the European Union’s more stringent emissions targets will force it to boost the proportion of hybrid and electric vehicles

Reuters Berlin
Volkswagen has raised its planned investment on digital and electric vehicle technologies to 73 billion euros (65.4 billion pounds) over the next five years as it seeks to hold onto its crown as the world's largest carmaker in a new green era.

Under a plan presented on Friday, Volkswagen said it would allocate nearly half its investment budget of 150 billion euros on e-mobility, hybrid cars, a seamless, software-based vehicle operating system and self-driving technologies.

In last year’s plan, the German car and truck maker, which owns brands including VW, Audi, Porsche, Seat and Skoda, had earmarked 60 billion euros