Volkswagen Will Kill Internal Combustion Engine Development After 2026, Exec Says

Galtero Lara
Diciembre 7, 2018

It's a known fact by now the Volkswagen Group is investing heavily in electric vehicles in the aftermath of the costly and never-ending Dieselgate ordeal.

This is part of VW's "pact for the future" objective, which aims to reduce costs by three billion euros by the year 2020.

Volkswagen's core brand aims to raise its profit margin faster than previously planned despite rising investments in the development of electric vehicles, the carmaker said on Thursday.

The group did not reveal details about whether jobs would be affected but has ruled out forced layoffs.

There will be a "massive reduction" in the complexity of the model portfolio, VW said.

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Jost added Volkswagen was committed to taking "radical steps" to help halt global warming and would continue to adapt its petrol- and diesel-engined vehicles (likely through the use of hybrid systems) to meet ever-tightening environmental regulations.

As Volkswagen's chief strategist, Michael Jost, explained "We're gradually fading out combustion engines to the absolute minimum".

The brand will axe a quarter of its engine and gearbox variants in Europe, concentrating mainly on the high-demand combinations of drivetrains and trim, to simplify production.

The first such electric vehicle will be the Porsche Taycan which will be introduced next year and will be followed by more such offerings as the company has set apart $50 billion (Rs 3.5 lakh crore) over the next five years towards transformation to self driving electric cars.

VW will also make electric cars in the U.S.in the medium term, although no decision has been made about the production site, the automaker said at a press conference at its headquarters in Wolfsburg, Germany.

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