After admitting to equipping more than 11 million vehicles worldwide — around 500,000 in the U.S. — with illegal “defeat devices” designed to cheat emissions standards, Volkswagen is trying to undo that damage by focusing more on greener, electric vehicles.
Volkswagen CEO Matthias Mueller said on Thursday that the company will introduce more than 30 electric-powered vehicles by 2025, selling two to three million of the cars each year, The Associated Press reports.
The new plan is a part of a review of the company’s strategy to increase its profitability by investing in new ventures, such as ride-hailing services. VW previously announced a $300 million investment in on-demand ride company Gett, which operates in Europe.
In order to move forward with the electric vehicle initiatives, VW says it will set aside about $11.2 billion by 2025, Bloomberg reports.
Mueller said on Thursday that the company’s focus on electric vehicles came about in part so it could meet increasingly stringent limits on emissions of pollutants.
In the past, VW tried to meet those requirements with its diesel-engine vehicles, but that strategy appears to have stalled following the carmaker’s admission of using software to trick emissions tests last year.
“The future program we’re unveiling today ushers in the biggest change process in the history of Volkswagen,” Mueller said. “We are building a new, a better and an even stronger Volkswagen.”
The company plans to establish a mobility-solutions business to develop and acquire technology that would fall within the ride-hailing, robo-taxi, and car-sharing arena, Bloomberg reports.
Mueller said the goal is for the company to generate billions in revenues from these efforts by 2025.
Volkswagen to launch more electric cars after diesel scandal [The Associated Press]
Volkswagen Pushes for Redemption With Electric Cars, Robo-Taxis [Bloomberg]
by Ashlee Kieler via Consumerist
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