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.
Disclaimer: The contents of this site, such as text, graphics, images, and other materials contained on the page are for general information purposes only. This article is not a substitute for professional advice on the topics mentioned. This article does not create any form of offers to any legal or professional service. The site assumes no responsibility for errors or omissions in the contents. In no event shall the site be liable for any special, direct, indirect, consequential, or incidental damages or any damages whatsoever, whether in an action to follow the content, negligence or other tort, arising out of the use of the contents of the article. The blog reserves the right to make additions, deletions, or modifications to the contents at any time without prior notice. The site does not warrant that the site is free of viruses or other harmful components. It may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other author, agency, organization, employer or company, including the site itself. It also does not provide professional advice, diagnosis, treatment or any legal service. The site does not endorse official procedures, legal actions or qualified services and the use of its contents are solely at your own risk.