What The Volkswagen CEO JUST ANNOUNCED Shocked The Entire Electric Car Industry

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What The Volkswagen CEO JUST ANNOUNCED Shocked The Entire Electric Car Industry | This Changes Everything

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For many years, the idea that electric vehicles would one day dominate our roadways appeared to be a pipe dream. As more and more manufacturers make efforts to position themselves for what looks to be the second phase of growth in the automotive industry, the market for electric vehicles has begun to enter a period that promises to be both eventful and exciting. Electric cars, first introduced to the public in the early 1900s, gained popularity quickly because drivers found them less stressful and more convenient to operate than the era’s gas-powered vehicles. However, they were quickly made obsolete by more modern, higher-quality gas-powered autos capable of traveling further without needing to refuel.

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During the year 2017, several nations expressed an interest in moving away from the use of vehicles that run on gasoline. In any event, the field of electric cars has significantly altered the face of the globe in recent years. Today, European automakers are under intense pressure to increase their sales of electric vehicles or risk incurring astronomical fines for violating stricter emissions regulations designed to combat climate change.

According to a statement released by the German automaker Volkswagen on Tuesday, the company anticipates that by the year 2030, battery-electric cars will account for half of their sales. The firm has said that by 2040, practically all its newly produced vehicles for sale in key markets shall be emission-free automobiles.

These goals are a subset of Volkswagen’s overarching purpose: to become carbon neutral by the year 2050. The company said that in addition to concentrating on converting its vehicles from ones powered by internal combustion engines to ones powered by batteries, it would also work on creating software to increase earnings.

Volkswagen also made the announcement that it was building three software platforms. Their goal is to produce one software platform by 2025 that can be utilized throughout the Volkswagen Group’s automobile lineup.

The creators of the technology said that software may become an essential source of revenue for the automotive industry by the year 2030. They anticipate that as many as 40 million vehicles will use the Group’s software platforms over the next ten years.

The software business CARIAD, owned by Volkswagen, is in the process of building software platforms that will provide a variety of capabilities. They can give steering controls to the vehicle itself and a unified information and entertainment system.

VW IS GETTING INTO THE BUSINESS OF MAKING EV BATTERIES
Still, supply chains are a mess, and the global economic recession is wreaking havoc on the prices of EV battery components. Many forward-thinking automakers are rushing to get supplies of valuable metals like cobalt, lithium, and nickel, which are used to make EV batteries and the tools to make them themselves.

Volkswagen has announced that it would invest $20.38 billion in producing batteries for electric vehicles. The business estimates that this step will create 20,000 new employment and $20.38 billion in yearly sales.

As Volkswagen hurries to acquire enough capacity, materials, and supplies to power its electric vehicle goals, the manufacturer plans to establish a new firm known as Power Co. to manage the massive operation.

Power Co. will manage the entirety of Volkswagen’s battery supply chain, from the first stages of researching and developing new technologies through the last stages of recycling used batteries. The announcement was made during a ceremony to lay the foundation for the company’s first battery facility in Salzgitter, a city in Lower Saxony in Germany.

Herbert Diess, the CEO of Volkswagen, was quoted as saying that “the battery cell business is one of the pillars of our New Auto strategy,” which would make Volkswagen a leading provider of the future environmentally friendly and software-driven mobility.

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