Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
Last updated 1 hour, 0 minute ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
Volkswagen to invest $24b in zero-emission vehicles
September 14, 2017
 Print    Send to Friend

FRANKFURT: Volkswagen (VW) is stepping up its shift to electric cars and plans to invest more than 20 billion euros ($24 billion) in zero-emission vehicles by 2030 to challenge pioneer Tesla in creating a mass market.

The world’s largest automaker by sales said that it would roll out 80 new electric cars across its multi-brand group by 2025, up from a previous goal of 30, and wanted to offer an electric version of each of its 300 group models by 2030.

The German company had previously said it would spend more than 10 billion euros by 2025 on a move to electric vehicles.

Until it admitted two years ago to cheating on US diesel emissions tests, Volkswagen had been slow to embrace electric cars and self-driving technology.

But the “dieselgate” scandal has prompted a strategic shift, while major advances in batteries and a global fight against pollution in the wake of VW’s scandal have raised pressure on carmakers to speed up development of zero-emission alternatives.

“A company like Volkswagen must lead, not follow,” Chief Executive Matthias Mueller told reporters on the eve of the Frankfurt auto show as he unveiled the group’s “roadmap E”. “We are setting the scene for the final breakthrough for e-mobility.”

VW’s so-called I.D. model will compete with Tesla’s least expensive car, the new $35,000 base-price Model 3 sedan, for mass-market buyers. VW’s electric car offensive mirrors pre-Frankfurt show announcements by German rivals.


Add this page to your favorite Social Bookmarking websites
Post a comment
Related Stories
Porsche to update software
FRANKFURT: Volkswagen’s Porsche said it plans additional software updates on certain diesel-engined versions of its top-selling Macan SUV after reports on Friday it was f..
VW brand sales worldwide rose to a record 6m cars in 2017
DETROIT: Volkswagen launched an all-new Jetta compact car, its biggest seller in America, at the Detroit Auto Show on Sunday as the German carmaker looks to revive sales ..
2018 Volkswagen Tiguan is like a good winter coat
A good compact crossover is like a good winter coat: it’s nothing to get excited about, but its ability to satisfy several functions can be very pleasing. The 2018 Volksw..
VW 2017 group sales rise to around 10.7m cars
BERLIN: Volkswagen group sales probably rose to around 10.7 million cars last year and kept the German behemoth ahead of Toyota as the world’s largest automaker, Bild am ..
Continental, Bosch to buy 5% stakes in map firm
BERLIN: German automotive suppliers Continental and Bosch are to buy stakes of 5 per cent each in digital mapping firm HERE to gain more expertise in driver-assistance an..
Advertise | Copyright