Volkswagen to invest €10 billion in advanced powertrains, but will continue clinging to diesel

volkswagen-i-d-concept

The Volkswagen Group has invested some €3 billion ($3.3 billion) in “alternative” drive technologies over the past five years, and plans to triple this amount over the next five years, said CEO Matthias Müller at the company’s Annual General Meeting in Hanover.

“The future is electric. We intend to be the number one in e-mobility by 2025,” said Müller. “At the same time, the Volkswagen Group is continuing to develop diesel and petrol engines, making them even more efficient and eco-friendly…Conventional engines will remain indispensable for the foreseeable future.”

“The Group will be rolling out more than 10 new electrified models by the end of 2018. By 2025, we will be adding over 30 more BEVs,” Müller added. “At the same time, we are conducting intensive negotiations to establish partnerships in the field of battery cells in Europe and China. You will soon be hearing more about this.”

 

Source: Volkswagen

  • Stuart51

    Amazing that they will spend 10 bill on advanced powertrains – but they won’t spend one signature, that would allow them to see THE most advanced powertrain.

    Frictionweightcosthandlingpackagingandmore.

    Nevvermine.

    As I told them, your IP counsel is not working for VW. They are working for the patent attorney industry.

    • mgl86

      Then patent it and sell it I suggest. Maybe some other car maker will buy it?

      • Stuart51

        Thanks, but I cannot trust the patent attorney industry.

  • Brock Nanson

    They actually mentioned batteries this time. The fact that they acknowledged them, indicates they finally realize the supply is limited and simply announcing EV’s won’t cause them to be built… or filled with batteries.

  • ron davison

    Diesel-gate and shrinking automotive markets with self driving cars around the corner have pushed MB out of the comfort zone. This may allow them to survive where other will not.