Volkswagen to invest 460 million euros in Wolfsburg plant for electric ID

BERLIN Volkswagen will invest 460 million euro $482 million in its Wolfsburg plant by early 2025, with most of the funds going into preparation for the production of the electric ID. Thomas Schaefer, brand chief, said on Wednesday.

The ID is produced in a series. An additional fully-electric model in the SUV segment is expected to be produced in Wolfsburg on the MEB platform, which is being developed into MEB the statement said.

According to the statement, the MEB platform will provide faster charging times and longer ranges.

Schaefer said SUVs were the largest segment of the carmaker in the world, in which our beloved Tiguan also belongs. The new model will add to our bestseller ID. 4 and ID. He said that 4 models would expand our market position.

The timeline for the production of the ID is here. With partial production scheduled for Wolfsburg from 2023 and full production expected in 2024, 3 is on track.