London (CNN Business)Volkswagen has committed to spending tens of billions of dollars as part of a dramatic shift to electric and autonomous vehicles.
The Germany carmaker said Friday that it would spend €44 billion ($50 billion) by 2023 to develop electric cars, self-driving vehicles and other new technology.
Speaking at a press conference following a meeting of the company’s supervisory board, CEO Herbert Diess described the company’s strategy as an “electric offensive.”
