VW Will Spend Billions of Its EV Development Budget on Gas Engines

[kobayashiGT]

Source: https://www.motor1.com/news/722457/vw-invest-billions-gas-engines/

It's fair to say the transition to EVs isn't going as some automakers had projected. Several car manufacturers are delaying their lofty goals to become purely electric in the foreseeable future. Just last y, Volkswagen estimated that EVs would account for as much as 80 percent of annual sales in Europe by the end of the decade. The so-so reception of ID models has prompted VW to revise its strategy.

Of the €180 billion ($196 billion) set aside in 2023 primarily for next-generation EVs, the German brand will now use one-third to continue the development of combustion engines. The announcement comes from Arno Antlitz, the Chief Financial Officer and Chief Operating Officer at the Volkswagen Group. The company intends to spend roughly €60 billion ($65 billion) to "keep our combustion cars competitive."

Speaking at an event held by Reuters in Munich, the CFO and COO added that "the future is electric, but the past is not over. It is a third and it will stay a third." It's a stark departure from the previous plan announced in late 2022 to build and sell only electric cars in Europe from 2033.

Last year, VW brand boss Thomas Schäfer referred to ICE as being "old technology" in the context of e-fuels. He described the discussions surrounding synthetic fuels as being nothing more than "unnecessary noise." That's despite the fact fellow VW Group brand Porsche is actively involved in producing synthetic fuel at a factory in Chile.

Other high-end marques from the VW empire are also keeping a close eye on how sustainable fuels evolve. Bugatti is even thinking of designing fuel stations that could be installed at the owner's home and filled up with synthetic fuel. Lamborghini believes the combustion engine could be saved by making it run on something other than fossil fuels. Bentley is also exploring nearly carbon-neutral fuels.

Speaking of the Crewe-based marque, Bentley has pushed back its objective to become EV-only by 2030, delaying it by three years. Similarly, Ford no longer thinks it can go entirely electric in Europe by 2030. Aston Martin recently reversed course as well and will continue to produce cars with combustion engines into the next decade.

It's clear that more and more car companies are reevaluating their EV strategies as people aren't willing to let go of ICE just yet. Automakers are in quite a predicament because emissions regulations are getting tighter, requiring investments to make gas engines run cleaner. At the same time, the electric offensive from China is a cause for concern for global players.

[mersaylee]

With thrusted data to boot? 😁

[Mkl22]

toyota still smarter.... never all in. 

 

European car marker just have to lobby EU.... just say cannot make it any cleaner... else all lose money and industry goes kaboom. all factories and jobs lost. see which politician can tahan. 

Edited June 10 by Mkl22

[inlinesix]

EV R&D went to China lo.

How can it lose China market

[Kklee]

IMHO.
We have Otto cycle and also Atkinson cycle.  Next change likely to be Miller cycle - can use gas.  🤣
Why Toyota is partnering Mazda and Subaru ?    Maybe because both have some experience in Miller cycle engines?  🤔

[Jamesc]

Rotary engine and be tuned to use fuel like hydrogen 

On 6/10/2024 at 10:25 AM, Kklee said:

IMHO.
We have Otto cycle and also Atkinson cycle.  Next change likely to be Miller cycle - can use gas.  🤣
Why Toyota is partnering Mazda and Subaru ?    Maybe because both have some experience in Miller cycle engines?  🤔

 

[Voodooman]

On 6/10/2024 at 10:25 AM, Kklee said:

IMHO.
We have Otto cycle and also Atkinson cycle.  Next change likely to be Miller cycle - can use gas.  🤣
Why Toyota is partnering Mazda and Subaru ?    Maybe because both have some experience in Miller cycle engines?  🤔

https://www.quora.com/What-are-the-problems-with-burning-pure-hydrogen-in-internal-combustion-engine

Maybe they are on a verge of a technological breakthrough that can solve the many challenges of hydrogen ICE. The Europeans tried it 20 years ago and gave up.

 

[Hamburger]

Such is angmon loser mentality .

To go electric is them, not to go also them.

Lose to cina now want to back out. Dui...

[D3badge]

On 6/10/2024 at 10:16 AM, Mkl22 said:

toyota still smarter.... never all in. 

 

European car marker just have to lobby EU.... just say cannot make it any cleaner... else all lose money and industry goes kaboom. all factories and jobs lost. see which politician can tahan. 

jobless is not just political issue, it is more a social issue and one thing for sure crime rate will increase plus social unrest especially when the gap between top 20% and the next 80% widen too much.

Edited June 10 by D3badge

[Tianmo]

On 6/10/2024 at 7:39 PM, Hamburger said:

Such is angmon loser mentality .

To go electric is them, not to go also them.

Lose to cina now want to back out. Dui...

Angmoh never thought the cina will press them on washing board and rub so hard.

 

[Hamburger]

@Tianmo 

10 or 20 yes ago cina could only compete with price. No safety, no tech nor design flair to talk about let alone quality feel. 

 

Cina is now on par or has even superseded the west in many ways. 

[Thaiyotakamli]

On 6/10/2024 at 10:16 AM, Mkl22 said:

toyota still smarter.... never all in. 

 

European car marker just have to lobby EU.... just say cannot make it any cleaner... else all lose money and industry goes kaboom. all factories and jobs lost. see which politician can tahan. 

https://sg.news.yahoo.com/finance/news/japan-automakers-post-21-slump-073417271.html

[Thaiyotakamli]

On 6/10/2024 at 7:39 PM, Hamburger said:

Such is angmon loser mentality .

To go electric is them, not to go also them.

Lose to cina now want to back out. Dui...

Its like apple did alot research and after see xiaomi launch, throw in white towel lol

[Mkl22]

On 6/11/2024 at 11:52 PM, Thaiyotakamli said:

https://sg.news.yahoo.com/finance/news/japan-automakers-post-21-slump-073417271.html

June 2020 news? Right in the midst of Covid when all factories were shut

[Voodooman]

https://www.channelnewsasia.com/business/europes-automakers-fret-china-ev-tariff-fears-become-reality-4405746

So the plan is to keep Chinese out with 38% tariff and continue to sell ICE cars made by angmos in Europe? 

Buy popcorn and wait for the Chinese to put tariff on German cars.  Maybe we will get cheaper i4 and i5 here as the Germans also got a huge overcapacity issue that needs to be fixed. 

[inlinesix]

On 6/13/2024 at 10:29 AM, Voodooman said:

https://www.channelnewsasia.com/business/europes-automakers-fret-china-ev-tariff-fears-become-reality-4405746

So the plan is to keep Chinese out with 38% tariff and continue to sell ICE cars made by angmos in Europe? 

Buy popcorn and wait for the Chinese to put tariff on German cars.  Maybe we will get cheaper i4 and i5 here as the Germans also got a huge overcapacity issue that needs to be fixed. 

BYD announced building a plant in Hungary in late 2023

Edited June 13 by inlinesix

[Lala81]

On 6/13/2024 at 10:29 AM, Voodooman said:

https://www.channelnewsasia.com/business/europes-automakers-fret-china-ev-tariff-fears-become-reality-4405746

So the plan is to keep Chinese out with 38% tariff and continue to sell ICE cars made by angmos in Europe? 

Buy popcorn and wait for the Chinese to put tariff on German cars.  Maybe we will get cheaper i4 and i5 here as the Germans also got a huge overcapacity issue that needs to be fixed. 

CNA just did a pretty good documentary on East vs West in the clean energy sector. 

The Automotive business involves 7% of total EU employment. They cannot let it crash.

Far right gained in european elections. 

 

[Lala81]

On 6/13/2024 at 10:49 AM, inlinesix said:

BYD announced building a plant in Hungary in late 2023

Trump says "BYD, u build in mexico, i still tax u 100%..." (even though it's in violation of their agreement with mexico)