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12/7/2022, 2:53 PM (Source: TeleTrader)
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VW to inject €460M by 2025 in its Wolfsburg plant

Volkswagen officially announced its plans on Wednesday to invest €460 million in its Wolfsburg plant by 2025. The funds will mainly be used to produce the new ID.3 model which is set to be ready for full production in 2024.

Chief Executive Thomas Schaefer told employees: "Volkswagen stands for electromobility for everyone. And Wolfsburg will be part of this success story."

Volkswagen's second priority after the production of the ID.3, is to launch a fully-electric SUV that will also be produced at the plant.

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