{"id":333090,"date":"2024-06-15T17:37:36","date_gmt":"2024-06-15T15:37:36","guid":{"rendered":"https:\/\/climatescience.press\/?p=333090"},"modified":"2024-06-15T17:37:39","modified_gmt":"2024-06-15T15:37:39","slug":"fossil-fuels-remain-the-future-vw-to-invest-60-billion-euros-in-combustion-engines","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=333090","title":{"rendered":"Fossil Fuels Remain The Future. VW To Invest 60 Billion Euros In Combustion Engines!"},"content":{"rendered":"\n
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<\/p>\n\n\n\n

From NoTricksZone<\/a><\/p>\n\n\n\n

By\u00a0P Gosselin<\/a><\/em><\/p>\n\n\n\n

In a surprising move, Volkswagen announced it plans to invest 60 billion euros in the development of new combustion engines as confidence in electric mobility plummets in Germany and elsewhere.<\/strong><\/p>\n\n\n\n

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Chat GPT AI generated image<\/em><\/figcaption><\/figure>\n\n\n\n

Strategy adjustment<\/strong><\/p>\n\n\n\n

\u201cThis change in strategy shows that the transition to electromobility is progressing more slowly than expected,\u201d reports Germany\u2019s Blackout News here<\/a>. \u201cJust last year, Volkswagen assumed that electric cars would account for 80 percent of annual sales in Europe by the end of the decade. However, the lukewarm reception for its own ID models is forcing the company to adjust its strategy.\u201d Also see (motor1: 07.06.24<\/a>).<\/p>\n\n\n\n

As German sales of electric vehicles fall way short of government targets due to their unpopularity and high costs, manufacturers are seeing the writing on the wall: Electric mobility still has a long way to go. <\/p>\n\n\n\n

Reality check<\/strong><\/p>\n\n\n\n

Originally, the Wolfsburg-Germany based VW planned to invest 180 billion euros only for the next generation of electric vehicles, but now it also plans to invest 60 billion euros for internal combustion engine development. <\/p>\n\n\n\n

\u201cThe future is electric, but the past is not over yet. It is a third and it will remain a third.\u201d Arno Antlitz, Chief Financial Officer and Chief Operating Officer of the Volkswagen Group.<\/p>\n\n\n\n

Electric mobility gets postponed <\/strong><\/p>\n\n\n\n

The announcement underscores the importance of internal combustion engines in the future, despite declarations from the media and governments claiming they would disappear over the next 1 or 2 decades.<\/p>\n\n\n\n

Volkswagen said in 2022 it would sell only electric cars by 2033. This obviously is not not longer the case.<\/p>\n\n\n\n

Other luxury VW brands like Bugatti, Lamborghini and Bentley are also focusing on continuing the combustion engine, but steering towards synthetic, alternative fuels.<\/p>\n\n\n\n

Blackout News also reports<\/a>, \u201cFord no longer believes it will be all-electric in Europe by 2030. Aston Martin has also decided to build cars with combustion engines into the next decade.\u201d<\/p>\n\n\n\n

What\u2019s behind the sudden swing back to combustion engines and the growing aversion to electric cars?<\/strong><\/p>\n\n\n\n

As the recent European election results starkly show, customers are tired of being told what to buy and what rules to follow. Germany\u2019s Green Party lost nearly half its voter base in last Sunday\u2019s EU election. Moreover, China\u2019s ability to produce electric cars cheaply is being increasingly viewed as a threat.<\/p>\n\n\n\n

\u201cThe electric offensive from China is worrying established car manufacturers,\u201d comments Blackout News<\/a>. \u201cCar manufacturers must react flexibly and invest in both electric and conventional technologies. This is the only way they can meet market and regulatory requirements.\u201d<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

In a surprising move, Volkswagen announced it plans to invest 60 billion euros in the development of new combustion engines as confidence in electric mobility plummets in Germany and elsewhere.<\/p>\n","protected":false},"author":121246920,"featured_media":333095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691829236,691829235,691820695],"class_list":{"0":"post-333090","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-electric-mobility","9":"tag-new-combustion-engines","10":"tag-volkswagen","12":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/06\/00vw-3.jpg?fit=1200%2C600&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1oEq","jetpack-related-posts":[{"id":332177,"url":"https:\/\/climatescience.press\/?p=332177","url_meta":{"origin":333090,"position":0},"title":"VW takes \u20ac60 billion out of the EV budget and puts it back into combustion cars","author":"uwe.roland.gross","date":"06\/09\/2024","format":false,"excerpt":"The government commanded the EV bubble, but even with billions in subsidies, schemes and advertising the chemistry didn\u2019t obey. 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In the process, the strangest things come to light. Lower Saxony's Minister of Economic Affairs Lies (the state has a 12% stake in VW) knew nothing about the manufacturer's processes and problems until the\u2026","rel":"","context":"In \"electric vehicles (EVs)\"","block_context":{"text":"electric vehicles (EVs)","link":"https:\/\/climatescience.press\/?tag=electric-vehicles-evs"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0volkswagen-id-concept-car.jpg?fit=1200%2C782&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0volkswagen-id-concept-car.jpg?fit=1200%2C782&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0volkswagen-id-concept-car.jpg?fit=1200%2C782&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/09\/0volkswagen-id-concept-car.jpg?fit=1200%2C782&ssl=1&resize=700%2C400 2x, 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