Volkswagen plans large investments in electromobility and announces a new crossover model. The German auto giant will invest 460 million euros in the modernization of the factory in Wolfsburg, which will prepare it for the production of electric models.

The production of models on the MEB mechanical platform should start already next year. This was confirmed by Thomas Schaefer, the first man of Volkswagen, who told the workers that the production of the ID.3 model will start next year, and that the factory will work at full capacity from 2024.

"Volkswagen represents electromobility for everyone. And Wolfsburg will be part of this success story," said Schaefer.

"Increasing the production capacity of the ID.3 is the first important step towards the electrification of our main plant. Along with the restyled ID.3, a new crossover is coming to the market that will use the renewed MEB platform."

The new MEB+ platform, as the biggest innovation, brings batteries with new technology, which, according to Volkswagen officials, will offer a range of up to 700 km.

Also, future models will be able to charge on 200 kW fast chargers.

"The new model will ideally complement our best-selling ID.4 and ID.5. In this way, we intend to further expand our market position and provide our customers with the high-quality vehicles they expect from us," said Šefer.

Interestingly, the MEB platform will remain in production until further notice. A total of 10 electric models have been announced until 2026, and among them is a new entry-level model with a price of 25,000 euros.