BERLIN : Volkswagen will invest 460 million euros by early 2025 in its Wolfsburg plant, with most of the funds to be spent for the production of the electric ID.3 model, brand chief Thomas Schaefer said on Wednesday.
The electric drive kit, which incorporates structure and design of a vehicle, is now being adapted into a new version, which will be called MEB+ and would allow for faster charging times and longer ranges, the automaker said. Output from the flagship plant has been on a downward spiral since 2015 when it produced around 800,000 vehicles, dropping drastically since the start of the coronavirus pandemic to under 400,000 a year.
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