Volkswagen Reallocates Funds to ICE Engine Development Amid Continued Commitment to Electrification
Volkswagen has announced a significant shift in its electrification strategy, redirecting a portion of its EV-designated funds towards the development of petrol engines. Arno Antlitz, the company’s Chief Financial Officer, revealed that Volkswagen will allocate approximately $65 billion to ensure its combustion-engine cars remain competitive. Despite acknowledging that electric vehicles (EVs) represent the future, Antlitz […]