Volkswagen invests 460 mil. euros in manufacturing new EVs

Volkswagen plans to invest 460 million euros in its Wolfsburg plant until early 2025, with most of the funds going towards the production of the ID.3.

According to Reuters, after Volkswagen will get the ID.3 into full production, the company will focus on manufacturing an additional electric SUV model on the same MEB platform.

Officials from the German brand announced that engineers are now working on improving the existing EV-dedicated platform, which was introduced back in 2019.

The new MEB+ platform should offer faster charging speeds and longer achievable ranges.

Brand chief Thomas Schaefer commented on SUVs, saying that "this is the largest vehicle segment worldwide, in which our beloved Tiguan also belongs. The new model will add to our bestseller ID.4 and ID.5 models and expand our market position."



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