VW to enter chip market in €60bn electromobility drive

November 18, 2019 //By Christoph Hammerschmidt
VW to spend €60 billion for electromobility R&D
Volkswagen plans to spend almost 60 billion euros in the coming years on investments in hybridisation, electromobility and digitisation, as well as get more involved in the semiconductor market.

Volkswagen has joined the SEMI semiconductor trade association as part of a signficant boost into research and development for electromobility.

The investments now announced represent just over 40 % of Volkswagen's investments in property, plant and equipment and the total research and development costs in the planning period. This represents an increase of around 10 percentage points compared with the Group's previous planning round. The Group plans to spend around €33 billion of this on electric mobility alone.

"In the following years, our investments will once again increase the pace for the development of new technologies. Hybridization, electrification and digitization of our fleet are becoming an increasingly important focus," said Herbert Diess, Chairman of the Board of Management of the Volkswagen Group.

The long-term planning for the next ten years has also been adjusted. The focus on electromobility means the VW Group plans to launch up to 75 pure e-models on the market by 2029, along with around 60 hybrid vehicles. The number of projected electric vehicles will increase to around 26 million vehicles, mainly due to the extension of the period under review until 2029. Volkswagen also plans to sell almost six million hybrid vehicles by 2029. Approximately 20 million of the planned electric vehicles by 2029 will be based on the Group's modular electric drive system (MEB), and a large proportion of the remaining six million vehicles will be based on the high-performance PPE platform.

The SEMI announcement at Semicon Europa underlines the importance of semiconductor technology for vehicle construction - and vice versa: 10 % of all semiconductors produced worldwide are used in vehicle construction. Media reports quote Ajit Manocha, President and CEO of SEMI, with figures. According to the reports, up to 10,000 chips and semiconductor sensors are installed in a car today. Manocha estimates that in a few years this number will rise to 100,000.

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