VW to build EVs at 16 factories by 2022

An agreement to toughen up EU legislation and regulations surrounding vehicle emissions designed to ensure that another ‘dieselgate’ scandal can never re-occur is being held up by the German government which wants more time to agree a compromise

VW to build EVs at 16 factories by 2022

The company has also revealed it is still looking for a battery supplier in North America.

A year ago in August, former Volkswagen executive Oliver Schmidt plead guilty in ties to the diesel emission scandal which resulted in a $25 billion loss for the company.

From 2020, it will roll out one electric auto "virtually every month" to give it the most varied fleet of electric models of any automaker.

Speaking at the Volkswagen Group's annual media conference in Berlin today, CEO Matthias Müller insisted it plans to build up to three million EVs a year by 2025.

China Merges Banking, Insurance Regulators
The banking and insurance regulators would become a single entity, the paper said. Once this happens, the Cabinet will consist of 26 Ministries and Committees.

To ensure a constant flow of batteries for the new cars, Volkswagen has signed an undisclosed number of contracts, valued at 20 billion euro ($25 billion), with battery manufacturers from both Europe and China.

But tens of billions of dollars of supply contracts for battery cells through 2025 might seem to indicate some urgency on the part of a company struggling to look forward to a cleaner future rather than backward to the sins of its past.

"This is how we intend to offer the largest fleet of electric vehicles in the world, across all brands and regions, in just a few years", Müller insisted.

Experts see VW's repeated emphasis on this front as a means of getting rid of the stigma of "dieselgate" of 2015 that has continually haunted the firm.

Siale Angilau Shot In Courtroom After Attacking Witness
An investigation launched into the incident found the officer, who was not named, was legally justified in using the force he did. He also noted that the defendant was already on the ground when the Marshall fired the final three shots, CBS News also reported.

The company still reiterated its commitment to "conventional vehicles", which we assume means diesel and gasoline vehicles. About 500,000 diesel vehicles with "defeat" devices were sold between 2009 and 2015 in the United States and another 11 million worldwide.

"The diesel scandal told us there was a need for radical change; the crisis has acted as a catalyst", said Muller.

As we discussed in the latest episode of the Electrek Podcast, Volkswagen's electric auto efforts mostly consist of press releases and concept vehicles at this time, but they seem quite serious about it based on their investments. "We are putting nearly Euro 20 billion into our conventional vehicle and drive portfolio in 2018, with a total of more than Euro 90 billion scheduled over the next five years".

It is a Golf-sized compact vehicle with the interior room of a mid-size auto due to the long cabin permitted by its electric powertrain.

Crazy Volume Spikes for: Bank of America Corporation (NYSE:BAC)
The Manufacturers Life Insurance Company boosted its position in shares of Bank of America by 27.8% during the 2nd quarter. Louisiana State Employees Retirement has invested 0.07% of its portfolio in Zebra Technologies Corporation (NASDAQ:ZBRA).

On its outlook for 2018, Volkswagen Group said it expects deliveries to customers to moderately exceed the prior-year figure. In terms of operating profit, an operating return on sales of between 6.5 and 7.5 percent is anticipated. North America will soon follow.

Latest News