The Cost of Future-proofing: German Auto Industry to Invest $68 Billion Into EVs, Mobility, Data Over Next Three Years

The German Association of the Automotive Industry, known in its native tongue as Verband der Automobilindustrie (VDA), says its members have formally committed themselves to investing 60 billion euros (roughly $68 billion USD) into electrification and vehicular autonomy over the next three years.

The claim was made as part of a larger announcement serving as a rundown for what German automakers hope to achieve in a period where nothing seems certain.

The European Union, along with China and several other nations, have committed themselves to embracing electrification in a bid to lower emissions and modernize roadways. “In the next three years, we will invest over 40 billion euros in electric mobility, in addition to a further 18 billion euros for digitalization, and the development of networked or automated vehicles” said VDA President Bernhard Mattes, adding that German automakers anticipate 100 EV models on offer to the public by the end of that period.

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  • Michael In your research you may have found that after 2024 this model will no longer be part of MINI lineup. I wish you would have driven JCW version. Over an additional 100hp. With launch control it will go 0 to 60 in about 4.6 seconds. Outstanding car.
  • RHD A hybrid small pickup is a no-brainer. Let's go, already! Price it reasonably and every one will fly off of the lot.
  • RHD This is a $3,500 car (assuming you can get a good junkyard transmission and install it yourself) that, once back in usable condition, will be worth about $1,000. Hopefully the guy that spray-painted the wheels black didn't attempt to rebuild the engine himself. That would make it a $5,500 car that's worth $1,000.
  • CEastwood They should , but they won't being fearful of losing those sales of near 30 grand base Tacomas . People thought Hyundai could do this then they did it at laughably expensive prices . And try to get a base Maverick at advertised prices . Go ahead I dare you .
  • Jpurcha Nice. I had bought one from my dad's friend for my first car. University/model airplane hauler.