On Tuesday, Volkswagen Group of America announced a U.S. subsidiary that will manage about $2 billion in investments in Zero Emission Vehicle (ZEV) infrastructure and awareness programs over a decade as part of a court settlement on the company's excess diesel emission.
The world's largest "auto-maker" by sales said the unit plans to install more than 500 charging stations throughout the nation, including more than 300 stations in 15 metro areas, the idea is to develop a high-speed, cross-country network consisting of more than 200 stations for electric vehicles. Volkswagen said it has not yet decided on a particular business model for its charging stations.
Volkswagen are also very keen to launch a "Green City" initiative in California city to pilot future concepts, which also includes potentially a ZEV-based shuttle service, an EV-based car-sharing program or a ZEV transit program.
Volkswagen has named long time auto-executive Mark McNabb as a chief executive of Electrify America. He has overseen diesel settlement program and will continue to do this in his new role. In an interview he said it's a fast and furious project, the push to expand electric vehicles is a perfect opportunity to transform the whole industry.
There will be four $500 million investments every 30 months from Volkswagen and must get approval from the California Air Resources Board and the U.S. Environmental Protection Agency for spending. The company must submit draft plans to regulators on the first funding plan by 22nd February.
Volkswagen's settlement on excess diesel emissions from nearly 600,000 U.S. vehicles requires a spending of about $800 million in California and $1.2 billion invested throughout America. Back in December, California said Volkswagen to add atleast three additional electric vehicles, including an SUV in the state by the year 2020 and must sell around 5,000 electric vehicles annually through 2025 in the state.
Volkswagen also halted sales of diesel in U.S. by late 2015, the company said it has no plans to resume U.S. diesel sales. Volkswagen is set to plead guilty on February 24th to three felony counts as part of a plea agreement with the U.S. Justice Department to resolve charges it installed software in U.S. vehicles to allow them to emit excess pollution.
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