Volkswagen to invest nearly $90 billion in combustion-powered models
As you know, several automakers are reviewing their investments in combustion engines and electrically powered vehicles. Volkswagen is one of them.
The German giant, which last year earmarked a colossal 180 billion euros (around $267 billion) for its next-generation electric vehicles and software, now says it wants to allocate a third to the development of combustion engines.
The news was announced this week by the Volkwagen Group's Director of Finance and Operations, Arno Antlitz, at an event in Munich. “The future is electric, but the past is not over,” he said, adding that he wanted to “keep our combustion vehicles competitive”.
As recently as the end of 2022, the automaker was planning to build and sell only electric vehicles in Europe from 2023. Last year, Volkswagen brand boss Thomas Schäfer called combustion engines “old technology” and efforts to keep them alive, such as synthetic fuels, “useless noise”.
Antlitz mentioned that plug-in hybrid models will be given greater prominence over the next few years, a reminder of General Motors' forthcoming change of direction in North America. The head of Volkswagen on our continent, Pablo Di Si, rightly said last year that one of his properties was to add at least one plug-in hybrid vehicle in the near future, possibly a Tiguan or Atlas.
The Volkswagen Group, which also includes the future Scout brand, planned in March 2022 to launch more than 25 new 100% electric models on the North American market by 2030, and to stop selling gasoline-powered vehicles by the middle of the next decade. However, this plan is also likely to be revised. For example, while the ID. Buzz van is due to arrive this fall as planned, the ID.7 sedan has been postponed indefinitely.
