Volkswagen Group is set to embark on a significant overhaul of its electrification plans over the next five years, with a focus on software strategies. This move follows a recent board meeting, which saw the global automotive group acknowledge the need to revamp its operations in order to better compete in the EV market. VW’s new CEO, Oliver Blume, has been working with executives to make sense of the automaker’s plans and ensure the transition to electric cars is carried out correctly.
While Volkswagen has faced software issues in the past, its ID line of EVs has been growing in popularity, and the group recently hit its target of delivering 500,000 ID EVs a year ahead of schedule. Although Tesla currently leads the EV game, analysts predict that VW Group could surpass it in electric car sales as early as 2024.
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As part of its new plan, VW will accelerate its shift to electric cars, with a brand-new software strategy. The board will be delving deeper into its various EV production facilities to make final decisions on when they will transition to producing EVs, which new factory plans will move forward, and what the job situation will look like as a result of upcoming changes.
Although there are still many questions surrounding the revamp, VW’s facility in Hannover, Germany, has received assurance that jobs will be guaranteed until 2029. It is expected that the factory will shift to producing EVs soon when current production plans come to an end.
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Volkswagen will continue to provide more information as it accelerates its plans, with complete details from the recent advisory board meeting set to be shared at the automaker’s yearly media conference on March 14, 2023. As the automaker works to compete in the ever-growing EV market, it remains to be seen how this new five-year plan will play out.
