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Business
Chris Bruce

VW Invests $7.1B Into North America, Targets 55 Percent EV Sales By 2030

Volkswagen North America

Volkswagen will invest $7.1 billion in North America over the next five years. The money will fund expansions to the product range, research and development, and manufacturing. The automaker's goal is for 55 percent of sales in the United States to be fully electric by 2030.

The investment into manufacturing will let VW begin building the ID.4 at its Chattanooga, Tennessee, facility in 2022. The automaker will also build the ID. Buzz in North America starting in 2024, and an unnamed electric crossover will begin production in the region in 2026.

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