reboot

VW seeks to catch Tesla with $30 billion tech reboot

“This would be the ‘brain’ of the car, and we don’t want to give it to other parties,” CEO Diess told Bloomberg in November. “We see that probably as the most important race and decisive point for our industry in the next five to 10 years.”

In its latest five-year investment plan, the company doubled spending on digitalization efforts to 27 billion euros ($32 billion), even as the overall budget remained flat. While that represents significant resources, Google parent Alphabet spends almost that much in a year.

Sprawling effort

Infighting has dogged VW’s effort. Car.Software was initially envisioned as an

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VW’s hopes of catching Tesla hinge on a $30 billion tech reboot

“This would be the ‘brain’ of the car, and we don’t want to give it to other parties,” CEO Diess told Bloomberg in November. “We see that probably as the most important race and decisive point for our industry in the next five to 10 years.”

In its latest five-year investment plan, the company doubled spending on digitalization efforts to 27 billion euros ($32 billion), even as the overall budget remained flat. While that represents significant resources, Google parent Alphabet spends almost that much in a year.

Sprawling effort

Infighting has dogged VW’s effort. Car.Software was initially envisioned as an

Read More