GregLocock
Automotive
- Apr 10, 2001
- 23,756
The basic problem with the transition to Net Zero in general, and EVs in particular, is that governments have a tendency to decree outcomes, encourage delivery by subsidies, and don't actually plan nation wide infrastructure changes. In the case of EVs various car companies have swallowed the 100% EV by 2035 targets. But, consumers aren't fully supportive of this, so VW at least have done at least a partial U turn.
Volkswagen hasn’t given up on its electrification plans, but it plans to shift some of its EV-designated funds to continue developing gas engines. Company Chief Financial Officer Arno Antlitz said the automaker would spend around $65 billion to “keep our combustion cars competitive.”
The executive acknowledged that EVs are the future but also said that “the past is not over.” His announcement that VW would invest a third of its planned EV funds in ICE tech is a reversal of previous statements and the company’s stated goal to only sell EVs in Europe by 2033. It’s also a change from the automaker’s estimates last year, which pegged EVs at 80 percent of its overall sales by the end of the 2020s.
It doesn't say over what time period, but 65B is not small bickies.
paywalled.
Cheers
Greg Locock
New here? Try reading these, they might help FAQ731-376
Volkswagen hasn’t given up on its electrification plans, but it plans to shift some of its EV-designated funds to continue developing gas engines. Company Chief Financial Officer Arno Antlitz said the automaker would spend around $65 billion to “keep our combustion cars competitive.”
The executive acknowledged that EVs are the future but also said that “the past is not over.” His announcement that VW would invest a third of its planned EV funds in ICE tech is a reversal of previous statements and the company’s stated goal to only sell EVs in Europe by 2033. It’s also a change from the automaker’s estimates last year, which pegged EVs at 80 percent of its overall sales by the end of the 2020s.
It doesn't say over what time period, but 65B is not small bickies.
paywalled.
Cheers
Greg Locock
New here? Try reading these, they might help FAQ731-376
