Volkswagen Is Investing $2 Billion To Push Into Electric Vehicles 


Volkswagen has set aside $2 billion for the next five years to invest in electric vehicles. Volkswagen’s U.S. CEO, Michael Horn, told reporters on Friday that “we are investing $2 billion over the coming 5 years in developing electric-based vehicles.” 

Horn said this investment would have an even bigger impact on the environment because it will be made by 2020 when Volkswagen is supposed to stop producing gas and diesel cars. 

The company hopes people will transition to electric vehicles as they move away from gas and diesel models.

Additionally, The Guardian reports that “electric cars are cheaper to run than gasoline or diesel-powered ones, but they are more expensive to buy.” 

From manufacturers like Nissan, Ford, Tesla, Chery, BMW, and others “electric cars are rapidly gaining popularity” across the world.

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