As part of a settlement with the federal government over its diesel emissions scandal, Volkswagen will help electrify the United States of America by building charging stations and investing $2 billion in electric transportation over the next decade.
And you thought the company would get off with a slap on the wrist.
The federal government saw an opportunity to turn the scandal into something positive and ordered VW to contribute to the next generation of transportation. This could be exactly the kind of jumpstart that electric cars need, because it could conceivably allow EVs to embark on cross-country road trips without fear of running out of electrons somewhere in the middle of Wyoming.
Not that Wyoming will get a lot of attention in the project. California, not surprisingly, will benefit from some pretty major investment. The Golden State currently has more EV drivers than any other, which explains the high concentration of investment there.
In response to the court order, Volkswagen created a subsidiary called Electrify America, which will make four $500 million investments separated by 30-month periods over the next 10 years. Continue reading >>>