The German automobile corporation will be putting around €60,000,000,000 into improving existing and creating new internal combustion engine designs.
The corresponding statement comes from Arno Antlitz, Chief Financial Officer of the company. It signifies a drastic change in the automaker’s strategy, which envisioned spending a colossal amount of €180,000,000,000 on electric vehicle research and development. According to Dr. Antlitz, the decision to shift focus from EVs to ICE cars had to be made in order for the latter to stay relevant and competitive on the turbulent market of today.
To us, this means that VW has essentially followed in the tracks of Toyota and other Japanese automobile manufacturers by divorcing from the idea of all-electric future. The company’s official long-term strategy still claims that it plans to become fully electric by the year 2033.