The Volkswagen Group wants to invest 60 billion euros in combustion engines in the coming years. Many media suspect a change in strategy as sales of electric cars are declining. This is misleading because the plans go back to the beginning of 2023 and VW wants to invest 120 billion euros in electromobility at the same time.
“VW with a new strategy: 60 billion euros for the development of combustion engines”, “Interest in electric cars is falling: VW is investing 60 billion euros in combustion engine models” or “Electric is selling poorly: Volkswagen is investing 60 billion euros in new combustion engines” : Numerous media reports on VW’s current investment plans are currently saying something similar.
The fact is: VW finance chief Arno Antlitz announced at a meeting News agency event Reuters in Munich At the beginning of June 2024, it was announced that around 60 billion euros would flow into combustion technology in the future. However, he also confirmed what is only mentioned in passing in many reports.
Combustion engine: VW is not changing its strategy
Namely that VW wants to invest 120 billion euros in electrification and digitalization at the same time. The even bigger problem: Contrary to the numerous reports, this is by no means a change in strategy. VW’s investment plans are: since the beginning of 2023 known and have now only been confirmed.
A frequently suggested connection with the currently declining sales figures for electric cars is also misleading. Because that Number of new registrations of electric cars has only stalled since the end of 2023. However, VW’s investment plans were already known months beforehand.
Rather, the Volkswagen Group is sticking to its previous electric strategy. CEO Oliver Blume recently spoke out in favor of maintaining the currently planned ban on combustion engines from 2035.
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The post Billions for combustion engines: Misleading reports on VW’s alleged change in strategy by Fabian Peters first appeared on BASIC thinking. Follow us too Facebook, Twitter and Instagram.