{"id":332177,"date":"2024-06-09T08:04:11","date_gmt":"2024-06-09T06:04:11","guid":{"rendered":"https:\/\/climatescience.press\/?p=332177"},"modified":"2024-06-09T08:04:13","modified_gmt":"2024-06-09T06:04:13","slug":"vw-takes-e60-billion-out-of-the-ev-budget-and-puts-it-back-into-combustion-cars","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=332177","title":{"rendered":"VW takes \u20ac60 billion out of the EV budget and puts it back into combustion cars"},"content":{"rendered":"\n
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From JoNova <\/a><\/p>\n\n\n\n

By Jo Nova<\/strong><\/a><\/p>\n\n\n\n

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EV manufacturers are backing away slowly from the Great EV Debacle<\/h4>\n\n\n\n

The government commanded the EV bubble, but even with billions in subsidies, schemes and advertising the chemistry didn\u2019t obey. Somehow, even with legislation, the right discoveries didn\u2019t discover themselves on cue.<\/p>\n\n\n\n

VW has decided to use one third of its EV development money to develop a better fuel car instead.<\/p>\n\n\n\n

Hey, it\u2019s only 60,000 million Euro.<\/p>\n\n\n\n

VW Will Spend Billions of Its EV Development Budget on Gas Engines<\/a><\/h4>\n\n\n\n

By: Adrian Padeanu, Motor1.com<\/em><\/strong><\/p>\n\n\n\n

Of the \u20ac180 billion<\/a> ($196 billion) set aside in 2023 primarily for next-generation EVs, the German brand will now use one-third to continue the development of combustion engines. The announcement comes from Arno Antlitz, the Chief Financial Officer and Chief Operating Officer at the Volkswagen Group. The company intends to spend roughly \u20ac60 billion ($65 billion) to \u201ckeep our combustion cars competitive.\u201d<\/p>\n\n\n\n

It\u2019s a stark departure from the previous plan announced in late 2022 to build and sell only electric cars in Europe from 2033<\/a>.<\/p>\n\n\n\n

Only a year ago Volkswagon was confident it could build a cheaper EV<\/a>. But a month ago they reported a 20 percent fall in first quarter profits<\/a>.<\/p>\n\n\n\n

Meanwhile Australia joins the EU with footage of \u201cEV Graveyards\u201d collecting at Port Melbourne<\/h4>\n\n\n\n

Australia remains  far behind the rest of the developed world in EV sales but is obviously catching up on the latest trends quickly. Sales have fallen 44%:<\/p>\n\n\n\n

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Nobody wants them \ud83e\udd23

Demand for Tesla\u2019s plummeted 44% in April resulting in thousands of them being parked at Port Melbourne pic.twitter.com\/OtBtgQeJVi<\/a><\/p>— Kanga \ud83e\udd98 (@TruthKanga) June 3, 2024<\/a><\/blockquote>