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10/09/2025 03:53 AST
Volkswagen will invest up to a billion euros ($1.2 billion) in artificial intelligence by 2030, feeding the technology into every area of its business in a bid to unlock billions in savings, the German carmaker said on Tuesday.
The announcement was made on the first day of the IAA car show in Munich, Europe's biggest, where European carmakers have gone on the offensive with electric model launches and technology revamps to combat Chinese competition.
Volkswagen's investment will go towards AI-supported vehicle development, industrial applications and the expansion of high-performance IT infrastructure, the company said in a statement, adding that the expected savings amount to up to 4 billion euros by 2035.
The German group is in the midst of deep changes in its two main markets of China and Germany as it steps back to work on new models, and major cost cuts are under way in Germany.
On Sunday, it unveiled a concept for a new small electric SUV, the ID.CROSS, part of the automaker's push to offer affordable battery-powered vehicles.
Volkswagen said AI would significantly accelerate the development process for new vehicle models and technologies.
"For us, AI is the key to greater speed, quality and competitiveness - along the entire value chain, from vehicle development to production," Hauke Stars, chief IT executive, said.
Reuters
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
10/09/2025
The main indicators on the US Wall Street stock exchange ended today's trading session higher.
The S&P 500 index rose by 0.21 percent to close at 6,495.15 points.
The Nasdaq Composi
Gulf Times
10/09/2025
Leaders of the 11-member BRICS bloc railed against economic protectionism and "tariff blackmail" during a virtual meeting Monday held amid a damaging trade war with US President Donald Trump. The gr
AFP
10/09/2025
Nearly four decades ago, when the personal computer boom was in full swing, a phenomenon known as the "productivity paradox" emerged.
It was a reference to how, despite companies' huge inves
Khaleej Times
09/09/2025
Elon Musk's SpaceX has bought $17 billion worth of spectrum licenses from US operator EchoStar, as part of its plan to strengthen Starlink network operations, the two companies announced in a stateme
AFP
08/09/2025
Türkiye will unveil an updated medium-term economic program on Monday, setting out the government's economic roadmap for the next three years with a focus on reducing inflation, achieving balanced gr
Asharq Al Awsat
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