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Volkswagen is looking to a multi-billion dollar electricity plan

1 Jan 0001 12:00 AM

The Volkswagen Supervisory Board is due to vote on a multi-billion euro investment plan on Friday, including steps to re-outfit three German electric power plants and discover alliances with battery partners and rival automakers. .

Trade unions, which control half of the seats in the Volkswagen Supervisory Board, need to sign the plan to create a global production capacity of 1 million electric cars by 2025 amid concerns that the assembly of battery-powered vehicles will require less workers.

Jobs are at risk because the engine combustion engine contains 1,400 engine components, an exhaust system and a transmission, while the electric car and engine have only 200 components, according to ING analysts.

Volkswagen management this week showed plans for labor leaders to turn factories in Zwickau, Emden and Hanover to build electric cars and provide work guarantees for workers until 2028.

The first ID electric car will be on the Zwickau production line in 2019, with a capacity of 330,000 electric cars. Zwickau currently builds VW Golf and Golf Estate.

Ford Motor Company is also looking to launch Volkswagen's electric vehicle platform in the Middle East, where the two companies will continue their exploratory talks on an alliance to develop self-driving and electric cars and complement each other's production horizons.

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