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<blockquote data-quote="Weather Man" data-source="post: 16749032" data-attributes="member: 137766"><p><h3><a href="https://seekingalpha.com/news/3815557-volkswagen-updates-on-strategic-ev-plan-for-north-america?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Volkswagen updates on strategic EV plan for North America</a></h3><p><a href="https://seekingalpha.com/symbol/VLKAF?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">VLKAF -1.11%</a>Mar. 21, 2022 12:59 PM ET<a href="https://seekingalpha.com/news/3815557-volkswagen-updates-on-strategic-ev-plan-for-north-america?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments" target="_blank">1 Comment</a></p><p>Volkswagen (<a href="https://seekingalpha.com/symbol/VLKAF" target="_blank">OTCPK:VLKAF</a>) announced a commitment of <a href="https://media.vw.com/en-us/releases/1668" target="_blank">$7.1B</a> over the next five years in the North American region to boost its product portfolio, regional R&D and manufacturing capabilities.</p><p>The German automaker plans to locally integrate its combustion-engine and electric vehicle assembly, American-focused engineering, battery know-how, and software development in a bid to reach an all-electric mix of 55% of all U.S. sales by 2030. Volkswagen is scheduled to phase out gasoline-powered vehicles from its American lineup over time. Notable all-electric models from Volkswagen include the American-assembled ID.4 in 2022, the ID.Buzz electric microbus in 2024 and new electric SUVs from 2026. Overall, U.S consumers are expected to see more than 25 new battery electric vehicles from Volkswagen through 2030.</p><p>A key part of Volkswagen's U.S. plan will be a new Battery Engineering Lab in Chattanooga that will start operations in May.</p><p>"This profound commitment to our localized capabilities will transform Volkswagen into one of the leading EV brands known for its commitment to innovation, quality, and the communities we call home," said Volkswagen of America CEO Scott Keough.</p><p>Dig into what Volkswagen (VLKAF) CEO Herbert Diess <a href="https://seekingalpha.com/article/4495663-volkswagen-ag-vwagy-ceo-herbert-diess-on-q4-2021-results-earnings-call-transcript" target="_blank">said last week on the company's earnings call.</a></p></blockquote><p></p>
[QUOTE="Weather Man, post: 16749032, member: 137766"] [HEADING=2][URL='https://seekingalpha.com/news/3815557-volkswagen-updates-on-strategic-ev-plan-for-north-america?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Volkswagen updates on strategic EV plan for North America[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/VLKAF?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']VLKAF -1.11%[/URL]Mar. 21, 2022 12:59 PM ET[URL='https://seekingalpha.com/news/3815557-volkswagen-updates-on-strategic-ev-plan-for-north-america?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments']1 Comment[/URL] Volkswagen ([URL='https://seekingalpha.com/symbol/VLKAF']OTCPK:VLKAF[/URL]) announced a commitment of [URL='https://media.vw.com/en-us/releases/1668']$7.1B[/URL] over the next five years in the North American region to boost its product portfolio, regional R&D and manufacturing capabilities. The German automaker plans to locally integrate its combustion-engine and electric vehicle assembly, American-focused engineering, battery know-how, and software development in a bid to reach an all-electric mix of 55% of all U.S. sales by 2030. Volkswagen is scheduled to phase out gasoline-powered vehicles from its American lineup over time. Notable all-electric models from Volkswagen include the American-assembled ID.4 in 2022, the ID.Buzz electric microbus in 2024 and new electric SUVs from 2026. Overall, U.S consumers are expected to see more than 25 new battery electric vehicles from Volkswagen through 2030. A key part of Volkswagen's U.S. plan will be a new Battery Engineering Lab in Chattanooga that will start operations in May. "This profound commitment to our localized capabilities will transform Volkswagen into one of the leading EV brands known for its commitment to innovation, quality, and the communities we call home," said Volkswagen of America CEO Scott Keough. Dig into what Volkswagen (VLKAF) CEO Herbert Diess [URL='https://seekingalpha.com/article/4495663-volkswagen-ag-vwagy-ceo-herbert-diess-on-q4-2021-results-earnings-call-transcript']said last week on the company's earnings call.[/URL] [/QUOTE]
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