VW alters electric ambitions, invests in combustion longevity
The transition to electromobility is not progressing as quickly as expected, causing manufacturers to change their previous plans. Volkswagen is a case in point, revising its earlier strategy.
As recently as last year, Volkswagen assumed that electric cars would make up about 80% of European sales by the decade's end. However, such results seem to be only a dream. The Germans, who were previously fully committed to the development of electromobility, now intend to play on two fronts.
During a recent conference in Munich, VW's Chief Financial Officer, Arno Antlitz, confirmed this, admitting that the company plans to spend around CAD 87 billion on further engine development and "keep our combustion cars competitive."
"The future is electric, but the past is not over," he diplomatically explained. It must be admitted that this is quite a bold statement from a brand representative who wanted to sell only electric cars after 2033.
Volkswagen is not the only company that has revised its plans regarding electromobility and decided to give a longer life to combustion engines. Recently, Ford and Mercedes, both earlier staunch promoters of an electric future, also intend to sell combustion engines for as long as possible.
