German car industry to invest €58bn in electric and driverless vehicles | Smart Highways Magazine: Industry News

German car industry to invest €58bn in electric and driverless vehicles

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Germany’s car industry is to invest 58 billion euros (£50 billion, US$68 billion) over the next three years on electric cars and automated driving, according to the head of the VDA car industry association.

Arynews.tv reports VDA president Bernhard Mattes as saying, “We will invest over 40 billion euros in electric mobility during the next three years, and another 18 billion euros will be invested in digitisation and connected and automated driving,

“The ramp-up of electric mobility is coming in Europe. Without it, the EU’s CO2 targets cannot be achieved by 2030.”

The report says he added that Germany, together with a few other major European economies, is set to have a much higher share of electric vehicles among its new registrations than the EU average.

Charging infrastructure for electric cars must be expanded and incentives offered to buyers of e-cars and the range of electric car models from German manufacturers would treble to around 100 in that period.

 
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