Volkswagen bet its future on electric vehicles, announcing plans to launch 30 new EVs shortly after its $18.2 billion emissions scandal. The automaker has now revealed that it intends to spend $193 billion over the next five years on various aspects of its electrification efforts. According to The New York Times, Volkswagen CEO Oliver Blume stated at a press event that two-thirds of that budget will be spent on battery manufacturing, software development, and sourcing critical and raw materials for its vehicles.
