Skip to main content

VW to Invest Billions in Traditional and Electric Powertrain Development

Volkswagen may be spending billions of dollars on its dieselgate scandal, but that doesn’t mean that the world’s biggest automaker isn’t prepared to spend billions more on engine development.

The German auto giant is preparing to spend about $11 billion on combustion engines and nearly $10 billion on electric propulsion over the next five years.

“Even though modern combustion engines will be relevant for at least another 20 years, it is clear that the future will be ruled by electric drives,” said CEO Matthias Müller at an industry conference in Austria. “What’s at stake is to develop a future-proof drives portfolio as a basis for transforming the core autos business.”

The newly announced investment means that Volkswagen will be tripling its electrification budget, as compared to the last three years.

Meanwhile, it hopes to improve fuel economy by 10%-15% in its combustion engines. A feat it says will be necessary as stricter emissions standards arrive in China, Europe, and the US.

Volkswagen still has to control costs, though, and that means reducing the variety of engines by about 40% by 2020. Müller would give no details as to which engines were on the chopping block, though.

[source: Automotive News]

The post VW to Invest Billions in Traditional and Electric Powertrain Development appeared first on VWVortex.



from VWVortex http://ift.tt/2qfjAxo
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Review: Saying Goodbye to the CC V6

For all its size and its global reach, Volkswagen is still, in many ways, a deeply human company. There was, for instance, the Bugatti Veyron an ego project if ever there was one. Then the purchase of Ducati, a move most called folly. And then there was the Phaeton, the Volkswagen that most folks can’t afford. Not only were these moves all strange, I’m sure that they made VW’s accountants furious. None of them made good business sense, but they were all deeply interesting and they all are evidence of the heart that beats at the center of VW. Among these follies is the CC, a car that everyone agrees is rakishly handsome, but that no one really wanted to buy. The car couldn’t last, but the world is brighter for its having been in it. With the approach debut of the Arteon, it seems like a good time to look back on its sadly departing predecessor. The version I drove, because I live in Canada, is a V6 Wolfsburg Edition, which apparently isn’t available in the States. Nor is the V6, not as...
Post a Comment
Read more

Mitsubishi admits it lied about MPG ratings for all vehicles in Japan

Filed under: Government/Legal , Green , Mitsubishi , Fuel Efficiency , Japan Mitsubishi says its shady fuel-economy test practices may have been used on all vehicles it sells and has sold in Japan. Continue reading Mitsubishi admits it lied about MPG ratings for all vehicles in Japan Mitsubishi admits it lied about MPG ratings for all vehicles in Japan originally appeared on Autoblog on Wed, 11 May 2016 12:36:00 EDT. Please see our terms for use of feeds . Permalink  |  Email this  |  Comments from Autoblog Volkswagen http://ift.tt/21X3bHv
Post a Comment
Read more

More 3.0-Liter TDI Settlement Details Expected by January 31

Volkswagen and the TDI Plaintiff’s Steering Committee were in court today for another status conference following the agreement in principal reached earlier this week. Little new information was given at the conference held before Judge Charles Breyer today, but the court ordered the parties to develop a formal settlement agreement, class action notices, and a class notice plan by January 31, 2017. For now, though, owners still don’t know how much to expect in compensation. Elizabeth Cabraser, lead Counsel for the Plaintiff’s Steering Committee reaffirmed in a statement today that the compensation would be “substantial.” The potential cost to Volkswagen is widely reported to exceed $1 billion, though, with an additional $225 million going into an environmental trust to help offset excess emissions. Buy back offers are still only expected for the oldest 20,000 of the roughly 80,000 VW Group vehicles sold in America with the 3.0-liter TDI engine. Those vehicles are mostly SUVs, like ...
Post a Comment
Read more