Over the next five years, the Volkswagen Group will invest an even larger proportion of its investment budget in electric car technology and digitalization. A total of around 2023 billion euros are to be invested in the years 2027 to 180, as the Dax Group announced on Tuesday in Berlin. Around 68 percent of this, i.e. more than two-thirds, will go to electrification and digital networking - a total of 122 billion euros. In the previous major planning round over five years, VW estimated around 56 percent of the total investment funds of 159 billion euros for future technologies.

Over the next five years, a lot of money is to be invested in the development of battery cell factories and securing the Group's raw materials. Up to 15 billion euros have been earmarked for this purpose. By 2030, the battery subsidiary Power Co is expected to generate annual sales of more than 20 billion euros.

E-car share low

According to the Group, the share of battery-electric vehicles in total deliveries reached a "record high" in 2022, but this amounted to just 7 percent. Accordingly, 572,100 purely electric vehicles were delivered, an increase of 26 percent year-on-year. VW aims for every fifth vehicle sold worldwide to have a purely electric drive by 2025.

Overall, however, deliveries fell by 7 percent to 8.3 million vehicles. This is also due to the supply bottlenecks. The Group expects these to "gradually decline" this year.

VW had already published the key figures for the 2022 financial year at the beginning of March. Accordingly, the Group increased its profit slightly by 2.6 percent to 15.8 billion euros last year despite supply problems and price increases for raw materials and energy. Sales rose by almost twelve percent to around 279 billion euros, partly due to higher selling prices.