VW Announces Massive $84 Billion Investment in Electric Cars and Batteries

[Megalith]

Volkswagen is completely overhauling its investment strategy: the company is preparing to spend up to 70 billion euros (~$84 billion USD) in order to bring 300 electric vehicle models to market by 2030. Most of the investment 50 billion euros (~$60 billion) will be in battery production in order to support their electric car ambitions for the next decade. VW will, however, continue to develop diesel cars.

Mueller has been a proponent of EVs within Volkswagen ever since he took the helms of the company following the Dieselgate Scandal, but he faced some internal backlash from the leadership. A slide that leaked from a VW presentation about its upcoming electric vehicles showed that they have 4 new models coming under the VW brand within the next few years, but also several more under Audi, Porsche, and the automaker’s other brands.

 

[0neTwo]

electric cars are a fad

call me when I can drive to the moon and back in one charge

 

[FrozenSteel]

300 Electric Vehicle Models? Have Gordon Ramsay look at that menu and see what happens...

 

[katanaD]

if they are pure electric they will not have to worry about meeting smog requirements, so one then has to wonder what tests VW will work hard on to cheat

 

[Twisted Kidney]

if they are pure electric they will not have to worry about meeting smog requirements, so one then has to wonder what tests VW will work hard on to cheat

Safety, they're testing passenger compartment crumple zones as I type.

 

[RickyJ]

You'll wonder why it's there, but they will still somehow find a way to turn on that check engine light.

 

[Design1stcode2nd]

It's vehicle models to The Golf E, Golf GTE Golf RE, etc Also that is probably VW group so not VW only.

 

[otherweeb]

electric cars are a fad

call me when I can drive to the moon and back in one charge

The other side of the pond thinks different. 'Specially when you can drive across nations on a single charge.

Paris to Moscow, 1575 miles and a minimum of 4 countries.

 

[nutzo]

if they are pure electric they will not have to worry about meeting smog requirements, so one then has to wonder what tests VW will work hard on to cheat

They will probably hide a diesel engine in the battery pack so they can claim a 300+ mile range.
Someone will eventually find the hidden exhaust pipe, and there will be another scandal forcing a massive recall.

 

[Jovian]

STOP! I dont want an electric GTI, I like it the way it is

 

[Rahh]

I think it's a great move!

 

[HockeyJon]

Plot twist: VW secretly installs a diesel engine, advertises killer range.

 

[mullet]

Sells all VW stock.