VW to spend €34bn on electric cars

Volkswagen has approved a €34bn spending plan that accelerates its efforts to become a global leader in electric cars. Stock photo: PA

Andreas Cremer and Jan Schwartz

Volkswagen has approved a €34bn spending plan that accelerates its efforts to become a global leader in electric cars.

The world's largest carmaker by unit sales will spend the money on electric cars, autonomous driving and new mobility services by the end of 2022.