VW CEO Ralf Brandstetter has confirmed that the Volkswagen brand will not finance the creation of new internal combustion engines, instead focusing on making the current lineup compatible with the strict emission standard.
The German automaker once again expressed his dedication to battery EVs, but pointed out that it could be still too soon to forego ICE cars completely. As such, they will stay in the VW product range until at least the early 2030s.
Volkswagen plans to increase the share of EVs in its total sales structure to 70% in Europe and 50% in China and the USA by late 2020s. Selling classical ICE cars will enable it to finance further EV research and development.