Volkswagen Invests Massively in Electric Cars

German auto manufacturer Volkswagen has reportedly committed to spending $66 billion between now and 2024 for developing their digital tech framework. Sources at the company claim that as much as $36 million went to growing the company’s electric car division. The Volkswagen Group doesn’t represent just the VW brand, however. The auto manufacturing company also includes vehicles produced under different brand names such as Audi and Skoda and performance sports cars such as Porsche or Lamborghini.

Modular Electric-Drive Matrix Development

The Volkswagen Group announced previously that it would be putting a lot of investment into developing its modular electric-drive matrix framework, termed the MEB. The MEB framework is designed to help the company construct multiple different models of vehicles by keeping many of the standard components interchangeable. The MEB allows Volkswagen to increase the size of the cabin without impacting the amount of power the car can deliver. Through software updates, the system can even provide better performance by enabling the gearbox to produce more torque to turn the wheels.

A New Platform Also In Development

While the MEB is innovative in allowing for the faster development of new models, the Volkswagen Group has also earmarked some funds to develop a brand-new platform. Dubbed the PPE, the new platform is intended to be a combination of engineering innovations pioneered by Audi and Porsche and will appear in those makes of vehicles. The PPE architecture will be built specifically for high-end and performance cars.

Hybrid Vehicles Also Included

VW will also be dedicating a large portion of the investment towards the creation of hybrid models, with the company stating that it intends to release sixty new hybrid vehicles into the market over the next five years. Additionally, VW has created a new department that will liaise with their business partner Ford in developing self-driving vehicle technology. The partnership of these auto giants makes the possibility of self-driving cars a distinct possibility within the next decade.