"Fossil Fuels Remain The Future. VW To Invest 60 Billion Euros In Combustion Engines!
In a surprising move, Volkswagen announced it plans to invest 60 billion euros in the development of new combustion engines as confidence in electric mobility plummets in Germany and elsewhere.
“This change in strategy shows that the transition to electromobility is progressing more slowly than expected,” reports Germany’s Blackout News here. “Just last year, Volkswagen assumed that electric cars would account for 80 percent of annual sales in Europe by the end of the decade. However, the lukewarm reception for its own ID models is forcing the company to adjust its strategy.” Also see (motor1: 07.06.24).
As German sales of electric vehicles fall way short of government targets due to their unpopularity and high costs, manufacturers are seeing the writing on the wall: Electric mobility still has a long way to go.
"BERLIN, Jan 10 (Reuters) - BMW (BMWG.DE), opens new tab is investing 650 million euros ($711 million) to convert its main plant in Munich to exclusively produce EVs from the end of 2027, the carmaker said on Wednesday, a major stepping stone in the transition to the electric age."
""The tipping point for combustion engines was last year," declared BMW's Chief Financial Officer, Walter Mertl, effectively drawing a line under the era of unbridled ICE growth. "
"Meanwhile, BMW's electrified fleet is experiencing a record-breaking surge. Sales of electric BMWs, Minis, and Rolls-Royces rocketed 74.4 per cent in 2023, propelling EVs to a 15 per cent share of the company's 2.56 million-unit total output.
This momentum is set to continue, with BMW aiming to ramp up EV share to 33 per cent by 2026 and a staggering 50 per cent by the end of the decade."
Or from VW itself
"EVs are the future, but combustion era 'is not over,' VW CFO says"
?Of the €180 billion ($196 billion) set aside in 2023 for research and development, the German brand said it would use more than two-thirds on "electrification and digitalization."?
So lots of EV and PHEV from VW. Hardly the abandonment of EV's.
"As German sales of GERMAN electric vehicles fall way short of GERMAN government targets due to their unpopularity and high costs, GERMAN manufacturers are seeing the writing on the wall as NON-GERMAN EV sales mushroom.
Fixed that for you.
Sales of PHEV and BV are online to be 1 in 12 of new cars in 2024. For every BEV sold this month in 2020 4 are being sold now.
Ford and GM are cutting back on EV investment and production (Ford losing $132K USD for each EV). Fisker just went Chapter 11 bankruptcy. So did Lordstown. Rivian isn't doing well either.
So, President Biden had $7 billion USD to build EV chargers all over the country. $7 Billion.
8...count them...8 sites have been built thus far. And folks wonder why I'm a government skeptic - and loudly proclaim that this is not a Constitutionally permitted activity by the Federal government (States, however, are a different beast - they can if they want).
Much of the private charging sites (Tesla mostly excluded) are hit or miss on whether they work or not (mostly not).
And now my local TV station has been running clips on how range is much diminished with EVs in the heat (batteries are being drained in keeping the batteries cool; nice tech but it doesn't help in getting where you want to go). This is in addition to the clips this past winter about the same problem. And more than a few on EV school buses, costing twice to three times the price of gas/diesel ones, not being able to be used in the northern part of the US. Mountainous areas? Forgettabout it!
Let's see how BMW goes.
I didn't say abandon but we're seeing the aftereffects of the over-exuberance of EV Future. IMHO, large scale rollout, now that early adopters and virtue-signalers, the market is certainly pulling back - resale prices on used EVs is crashing. Almost half of EV users (https://www.eenews.net/articles/46-of-american-ev-drivers-want-to-go-back-to-gas-cars-report/) are looking to go back to gas powered cars.
Bottom line is that I'm agnostic to either EV or ICE as long as it gets me to where I want to go in hauling the people and stuff that needs to go with me without worrying about range and reliability. What I am NOT agnostic about is having govt ramming it down my throat via laws or biasing regulations in forcing its choice upon me.
My problem with your post is that you are cherry picking numbers. You are mixing up international numbers like "VW Investments" which is a worldwide number with "Frisker Chapter 11" which is a USA phenom and has no relevance to worldwide events.
Your Present Biden number applies only to the USA not anywhere else. That 60 Billion number is worldwide with most of it (possibly all of it) being in Europe which is of no relevance given you then spend the rest of our post talking about the USA.
By all means talk about the USA as the market there seems to be acting completely differently to everywhere else. Or talk about the non-USA EV market but don't mix them up to try and make a point.
The reality is that the worldwide sales for EV's is growing at approx. 32% - I have no idea or even care what the USA only number is and its actually irrelevant.
"And now my local TV station " make my point why don't you!
"Let's see how BMW goes" given their published numbers and market trends it looks like the answer to your question is "very well". However, of course the answer to how BMW does in the USA and how BMW does everywhere else could and most probably will be different.
"the market is certainly pulling back" Not in the Non-USA part of our planet it's not. And that's where the important bits are happening.
"What I am NOT agnostic about is having govt ramming it down my throat via laws or biasing regulations in forcing its choice upon me"
I'm just glad VW Bugs were held up as an example of repairability.
Imagine how much better it would be if real Bugs came back again, of course the emission thing would need to be worked out, but, less parts, recyclability, good gas mileage, and the ability to withstand moisture (which will be needed if the seas keep rising).
On the last point, imagine taking a bug convertible on a lake. One wouldn't need a boat, just drop the top and go fishing and the Bug can be propelled by an electric motor (which by the way several Bugs have been converted to EVs (and the last time I checked there was a kit of sorts for it).
Yup, the Bug the perfect car for the future.
And in case you haven't picked up on it, I do love my 69 Bug.
Thanks, Lloyd. We agree: 0. Energy efficiency 1. Longevity 2. Repairability .
("0" because if it wastes to much energy in the time it's used, it's not a good idea that it lasts long :-).
Meanwhile, in other VW news:
"Fossil Fuels Remain The Future. VW To Invest 60 Billion Euros In Combustion Engines!
In a surprising move, Volkswagen announced it plans to invest 60 billion euros in the development of new combustion engines as confidence in electric mobility plummets in Germany and elsewhere.
“This change in strategy shows that the transition to electromobility is progressing more slowly than expected,” reports Germany’s Blackout News here. “Just last year, Volkswagen assumed that electric cars would account for 80 percent of annual sales in Europe by the end of the decade. However, the lukewarm reception for its own ID models is forcing the company to adjust its strategy.” Also see (motor1: 07.06.24).
As German sales of electric vehicles fall way short of government targets due to their unpopularity and high costs, manufacturers are seeing the writing on the wall: Electric mobility still has a long way to go.
Reality check..."
https://wattsupwiththat.com/2024/06/15/fossil-fuels-remain-the-future-vw-to-invest-60-billion-euros-in-combustion-engines/
BMW seems to have a different opinion
"BERLIN, Jan 10 (Reuters) - BMW (BMWG.DE), opens new tab is investing 650 million euros ($711 million) to convert its main plant in Munich to exclusively produce EVs from the end of 2027, the carmaker said on Wednesday, a major stepping stone in the transition to the electric age."
""The tipping point for combustion engines was last year," declared BMW's Chief Financial Officer, Walter Mertl, effectively drawing a line under the era of unbridled ICE growth. "
"Meanwhile, BMW's electrified fleet is experiencing a record-breaking surge. Sales of electric BMWs, Minis, and Rolls-Royces rocketed 74.4 per cent in 2023, propelling EVs to a 15 per cent share of the company's 2.56 million-unit total output.
This momentum is set to continue, with BMW aiming to ramp up EV share to 33 per cent by 2026 and a staggering 50 per cent by the end of the decade."
Or from VW itself
"EVs are the future, but combustion era 'is not over,' VW CFO says"
?Of the €180 billion ($196 billion) set aside in 2023 for research and development, the German brand said it would use more than two-thirds on "electrification and digitalization."?
So lots of EV and PHEV from VW. Hardly the abandonment of EV's.
"As German sales of GERMAN electric vehicles fall way short of GERMAN government targets due to their unpopularity and high costs, GERMAN manufacturers are seeing the writing on the wall as NON-GERMAN EV sales mushroom.
Fixed that for you.
Sales of PHEV and BV are online to be 1 in 12 of new cars in 2024. For every BEV sold this month in 2020 4 are being sold now.
Ford and GM are cutting back on EV investment and production (Ford losing $132K USD for each EV). Fisker just went Chapter 11 bankruptcy. So did Lordstown. Rivian isn't doing well either.
So, President Biden had $7 billion USD to build EV chargers all over the country. $7 Billion.
8...count them...8 sites have been built thus far. And folks wonder why I'm a government skeptic - and loudly proclaim that this is not a Constitutionally permitted activity by the Federal government (States, however, are a different beast - they can if they want).
Much of the private charging sites (Tesla mostly excluded) are hit or miss on whether they work or not (mostly not).
And now my local TV station has been running clips on how range is much diminished with EVs in the heat (batteries are being drained in keeping the batteries cool; nice tech but it doesn't help in getting where you want to go). This is in addition to the clips this past winter about the same problem. And more than a few on EV school buses, costing twice to three times the price of gas/diesel ones, not being able to be used in the northern part of the US. Mountainous areas? Forgettabout it!
Let's see how BMW goes.
I didn't say abandon but we're seeing the aftereffects of the over-exuberance of EV Future. IMHO, large scale rollout, now that early adopters and virtue-signalers, the market is certainly pulling back - resale prices on used EVs is crashing. Almost half of EV users (https://www.eenews.net/articles/46-of-american-ev-drivers-want-to-go-back-to-gas-cars-report/) are looking to go back to gas powered cars.
Bottom line is that I'm agnostic to either EV or ICE as long as it gets me to where I want to go in hauling the people and stuff that needs to go with me without worrying about range and reliability. What I am NOT agnostic about is having govt ramming it down my throat via laws or biasing regulations in forcing its choice upon me.
My problem with your post is that you are cherry picking numbers. You are mixing up international numbers like "VW Investments" which is a worldwide number with "Frisker Chapter 11" which is a USA phenom and has no relevance to worldwide events.
Your Present Biden number applies only to the USA not anywhere else. That 60 Billion number is worldwide with most of it (possibly all of it) being in Europe which is of no relevance given you then spend the rest of our post talking about the USA.
By all means talk about the USA as the market there seems to be acting completely differently to everywhere else. Or talk about the non-USA EV market but don't mix them up to try and make a point.
The reality is that the worldwide sales for EV's is growing at approx. 32% - I have no idea or even care what the USA only number is and its actually irrelevant.
"And now my local TV station " make my point why don't you!
"Let's see how BMW goes" given their published numbers and market trends it looks like the answer to your question is "very well". However, of course the answer to how BMW does in the USA and how BMW does everywhere else could and most probably will be different.
"the market is certainly pulling back" Not in the Non-USA part of our planet it's not. And that's where the important bits are happening.
"What I am NOT agnostic about is having govt ramming it down my throat via laws or biasing regulations in forcing its choice upon me"
Oh dear. What a pity. Never mind.
If memory serves me, at one time the beetle front and rear fenders were interchangeable
I'm just glad VW Bugs were held up as an example of repairability.
Imagine how much better it would be if real Bugs came back again, of course the emission thing would need to be worked out, but, less parts, recyclability, good gas mileage, and the ability to withstand moisture (which will be needed if the seas keep rising).
On the last point, imagine taking a bug convertible on a lake. One wouldn't need a boat, just drop the top and go fishing and the Bug can be propelled by an electric motor (which by the way several Bugs have been converted to EVs (and the last time I checked there was a kit of sorts for it).
Yup, the Bug the perfect car for the future.
And in case you haven't picked up on it, I do love my 69 Bug.