Volkswagen vows to invest $193 billion in electrification
its Chattanooga, Tennessee factory in 2022. But Volkswagen's electrification efforts are still behind its biggest competitors', and it's aiming to establish a stronger foothold in North America, as well to become more competitive in China. The company considers those regions as its two most important markets — ones it will have to conquer if it wants to reach its goals.
For now, the automaker will continue making gas vehicles while it's working to expand its EV offerings with more models, includingthat cost around $26,000. Arno Antlitz, Volkswagen’s chief financial and operating officer, talked about the path the company has to take going forward, though:"We must transform ourselves into a technology and mobility services group.
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Volkswagen announces five-year $193 billion investment plan as electrification gathers pace
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