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Volkswagen investing billions in connected cars - Takeovers planned

August 24, 2018


Abstract : Volkswagen wants to invest billions in connectivity for its cars as the automobile industry transitions toward e-mobility and digitization.

Volkswagen wants to invest billions in connectivity for its cars as the automobile industry transitions toward e-mobility and digitization. 3.5 billion Euro should be put towards a digitization offensive by 2025, announced the corporation in Berlin Tuesday. Digital offerings and services should generate strong sales in the future. VW is also planning cooperations and takeovers with an eye towards the necessary software know-how.

Cars are increasingly becoming “digital ‘devices’ on wheels,” said Volkswagen Brand Board Member for Sales Jürgen Stackmann.

“In order to master this development, we need to reinvent the car somewhat,” said Michael Jost, Chief Strategy Officer of the Volkswagen Brand.

VW additionally wants to launch a purely electric car-sharing offering under the sub-brand “We Share”. The kickoff for this should take place during the second quarter of 2019 in Berlin - with an initial fleet of 1,500 e-Golfs. 500 e-Up compact cars should follow later. Afterwards the service will be introduced in other big cities in Germany. From 2020, VW’s car-sharing service should be extended to the European market as well as select cities in the US and Canada.

dpa

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Keyword: volkswagen digitalization connectivity

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