{"id":1116062,"date":"2021-12-13T21:14:26","date_gmt":"2021-12-14T02:14:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1116062"},"modified":"2021-12-13T21:14:29","modified_gmt":"2021-12-14T02:14:29","slug":"volkswagen-is-spending-100-billion-on-electric-vehicles","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/volkswagen-is-spending-100-billion-on-electric-vehicles\/","title":{"rendered":"Volkswagen Is Spending $100 Billion On Electric Vehicles"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fvolkswagen-is-spending-100-billion-on-electric-vehicles%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1116062&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Volkswagen is hiking its electric vehicle investment to $100 billion.<\/p>\n<p>Last week, the German automaker announced that roughly 25% of its vehicles sold will be electric within the next five years \u2014 marking a significant increase over its current production levels.<\/p>\n<p><a href=\"https:\/\/www.cnn.com\/2021\/12\/09\/business\/volkswagen-electric-vehicle-investment\/index.html\">CNN Business<\/a> reported:<\/p>\n<p>As it prepares for that shift, VW will spend \u20ac89 billion, the equivalent of a little more than $100 billion, to speed its push towards electricification. This marks the first time VW is budgeting more than half its total spending \u2014 which totals roughly $180 billion \u2014 for EVs. At the same time, expenditures on hybrid vehicles, which use batteries along with gasoline engines will be reduced by 30%.<\/p>\n<p>The expenditures will include new factories, such as a new plant at the companies headquarters at Wolfsburg, Germany. VW\u2019s Project Trinity, a new flagship electric car planned for around 2025, will be built at Wolfsburg. VW also outlined plans for a number of new facilities throughout Europe.<\/p>\n<p>Volkswagen is also planning to create a separate battery manufacturing company. The battery business is expected to generate up to \u20ac30 billion in revenue which is more than the company\u2019s Skoda passenger car division currently generates, according to VW.<\/p>\n<p>Many other established automotive firms are pivoting toward electric vehicle production as the American regulatory and consumer preference landscapes continue to shift.&nbsp;<\/p>\n<p>For instance, as part of its plan to spend $13 billion on electric vehicle manufacturing investments across the globe, Toyota <a href=\"https:\/\/www.dailywire.com\/news\/toyota-will-build-1-3-billion-electric-car-battery-plant-in-north-carolina\">revealed<\/a> that it will construct a $1.29 billion electric car battery facility in North Carolina which will eventually employ 1,750 people. The plant\u2019s four production lines will each be capable of producing battery packs for 200,000 cars per year.&nbsp;<\/p>\n<p>Top White House officials \u2014 including President Joe Biden himself \u2014 are quick to <a href=\"https:\/\/www.dailywire.com\/news\/pushing-build-back-better-agenda-biden-claims-you-can-drive-across-the-country-in-an-electric-vehicle-on-a-single-tank-of-gas-figuratively-speaking\">endorse<\/a> electric vehicle production. In October, Biden claimed that those traveling in electric vehicles can cross the United States on \u201ca single tank of gas, figuratively speaking.\u201d Likewise, Transportation Secretary Pete Buttigieg <a href=\"https:\/\/www.dailywire.com\/news\/buttigieg-electric-cars-will-make-it-so-americans-never-have-to-worry-about-gas-prices-again\">asserted<\/a> that the pending \u201cBuild Back Better Act\u201d would ensure that Americans \u201cnever have to worry about gas prices again.\u201d<\/p>\n<p>\u201cThe people who stand to benefit most from owning an EV,\u201d Buttigieg commented, \u201care often rural residents who have the longest distances to drive, they burn the most gas, and underserved urban residents in areas where there are higher gas prices and lower-income. They would gain the most by having that vehicle. These are the very residents who have not always been connected to electric vehicles that are viewed as kind of a luxury item.\u201d<\/p>\n<p>Progressive lawmakers are following suit. Earlier this year, Sen. Alex Padilla (D-CA) and Sen. Dianne Feinstein (D-CA) requested that President Biden \u201cfollow California\u2019s lead and set a date by which all new cars and passenger trucks sold be zero-emission vehicles.\u201d The letter also presses Biden to use the deal that Ford, Honda, BMW, and Volkswagen struck with the state of California: \u201cWe believe the national baseline should, at an absolute minimum, be built around the technical lead set by companies that voluntarily advanced their agreements with California. \u2026 California and other states need a strong federal partner.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Volkswagen is hiking its electric vehicle investment to $100 billion.Last week, the German automaker announced that roughly 25% of its vehicles sold will be electric within the next five years \u2014 marking a significant increase over its current production levels.CNN Business reported:As it prepares for that shift, VW will spend \u20ac89 billion, the equivalent of a little more than $100 billion, to speed its push towards electricification. This marks the first time VW is budgeting more than half its total spending \u2014 which totals roughly $180 billion \u2014 for EVs. At the same time, expenditures on hybrid vehicles, which use batteries along with gasoline engines will be reduced by 30%.The expenditures will include new factories, such as a new plant at the companies headquarters at Wolfsburg, Germany. VW\u2019s Project Trinity, a new flagship electric car planned for around 2025, will be built at Wolfsburg. VW also outlined plans for a number of new facilities throughout Europe.Volkswagen is also planning to create a separate battery manufacturing company. The battery business is expected to generate up to \u20ac30 billion in revenue which is more than the company\u2019s Skoda passenger car division currently generates, according to VW.Many other established automotive firms are pivoting toward electric vehicle production as the American regulatory and consumer preference landscapes continue to shift.\u00a0For instance, as part of its plan to spend $13 billion on electric vehicle manufacturing investments across the globe, Toyota revealed that it will construct a $1.29 billion electric car battery facility in North Carolina which will eventually employ 1,750 people. The plant\u2019s four production lines will each be capable of producing battery packs for 200,000 cars per year.\u00a0Top White House officials \u2014 including President Joe Biden himself \u2014 are quick to endorse electric vehicle production. In October, Biden claimed that those traveling in electric vehicles can cross the United States on \u201ca single tank of gas, figuratively speaking.\u201d Likewise, Transportation Secretary Pete Buttigieg asserted that the pending \u201cBuild Back Better Act\u201d would ensure that Americans \u201cnever have to worry about gas prices again.\u201d\u201cThe people who stand to benefit most from owning an EV,\u201d Buttigieg commented, \u201care often rural residents who have the longest distances to drive, they burn the most gas, and underserved urban residents in areas where there are higher gas prices and lower-income. They would gain the most by having that vehicle. These are the very residents who have not always been connected to electric vehicles that are viewed as kind of a luxury item.\u201dProgressive lawmakers are following suit. Earlier this year, Sen. Alex Padilla (D-CA) and Sen. Dianne Feinstein (D-CA) requested that President Biden \u201cfollow California\u2019s lead and set a date by which all new cars and passenger trucks sold be zero-emission vehicles.\u201d The letter also presses Biden to use the deal that Ford, Honda, BMW, and Volkswagen struck with the state of California: \u201cWe believe the national baseline should, at an absolute minimum, be built around the technical lead set by companies that voluntarily advanced their agreements with California. \u2026 California and other states need a strong federal partner.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.\u00a0<\/p>\n","protected":false},"author":99,"featured_media":1893932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1116062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1116062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1116062"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1116062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1893932"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1116062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1116062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1116062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}