Volkswagen says to invest 44 bn euros in e-cars by 2023

FRANKFURT, Nov 16. Volkswagen announced plans Friday to invest up to 44 billion euros ($50 billion) in the greener, smarter cars of the future as the German auto giant seeks to turn the page on its “dieselgate” emissions cheating scandal.

“Over the coming five years to the end of 2023, the company will be spending almost 44 billion euros alone on the future issues of e-mobility, autonomous driving, new mobility services and digitalisation,” VW said in a statement after a meeting of its supervisory board.