On Friday, the German automaker Volkswagen said it would invest 44,000 million euros (about 50,000 million dollars) by 2023 developed electric vehicles, autonomous vehicles and other new technologies.
At a press conference after the meeting of the company's supervisory board, general manager Herbert Diess He described the company's strategy as an "electric offensive".
In September, Volkswagen admitted that this was not enough, even though it had a high budget for an electric car.
Diess said on Friday that greater use of new technologies could initially lead to profit growth.
The investment is about US $ 11,400 million over what the company paid for new technologies in last year's budget plan.
"Volkswagen needs to be more efficient, more productive and profitable to finance high consumption in the future and remain competitive," Diess said during the conference.
Volkswagen's stake, which fell about 12% this year, fell by 1.3% on Friday.
The alliance with Ford is accelerating
Also, Diess said that talks with an American automotive Ford manufacturer that are involved are "progressing positively".
Until now, the only solid link between Ford and Volkswagen was an agreement on the joint operation of commercial vehicles. But Diess sees more potential there.
"We can achieve greater growth and solve the transformation of our business if we do so with partnership," he said.
Car dealers spend billions of dollars trying to develop electric and automatic propulsion vehicles, which they believe are the future.
In addition to Tesla, they also face increasing competition from technology companies, including Ubera and the alphabet.
Volkswagen said that the first model built under its new strategy will begin to leave the assembly line in 2022. Diess explained that the car will have a range of up to 550 km and will cost equivalent to the current diesel Golf.
In addition, Diess said, Volkswagen is considering building own batteries, key components of electric vehicles.
2017, according to Statistics, ended with VW, which was run by very few global sales, followed by Nissan-Renault-Mitsubishi and Toyota. Keep going back, GM.