4 months ago
24
10th June 2024, 13:12
Senior - BHPian
Join Date: Mar 2021
Location: Bangalore
Posts: 2,218
Thanked: 21,418 Times
Volkswagen shifts one-third of its EV fund backmost to ICE development
Last year, Volkswagen announced that it had acceptable speech 180 cardinal euros for the improvement of next-generation EVs. The car elephantine had estimated that by the extremity of the decade, EVs would relationship for 80% of their yearly sales.
However, 1 twelvemonth later, Volkswagen seems to person changed its basal slightly. As confirmed by Arno Antlitz, CFO & COO of Volkswagen Group, the institution volition present usage one-third of its EV fund to proceed the improvement of its combustion engines. Antlitz stated that the VW Group would walk astir 60 cardinal euros to support its combustion cars competitive.
He further added, "The aboriginal is electric, but the past is not over. It is simply a third, and it volition enactment a third."
Volkswagen, though, isn't the archetypal carmaker to rotation backmost connected its EV plans. Other companies, including Mercedes-Benz, retreated to its ICE vehicle amidst the slowdown successful EV sales, which tanked by 9% successful the archetypal 4th this year.
Volkswagen Group-owned supercar marque Lamborghini is besides moving connected ways to support its iconic V12 combustion motor alive for the foreseeable future. The Italian marque is looking astatine synthetic fuels to assistance powerfulness its ICE vehicles.
Source: AutomotiveNews Europe
