Volkswagen Announces New Subsidiary In The US Called Electrify America - watsupptoday.com
Volkswagen Announces New Subsidiary In The US Called Electrify America
Posted 10 Feb 2017 11:57 AM

Volkswagen America announced the introduction of Electrify America. This new subsidiary will manage more than $2 billion worth of investment into zero-emission vehicle infrastructure in the next decade. The concentration will also be on infrastructure as well during this duration.

Volkswagen has plans to install more than 500 charging stations in America and more than 300 of these will be located in 15 metro areas around the country. It will also develop a high-speed, cross-country network consisting of more than 200 stations.

The new company will be based out of Reston, Virginia, and will not be in the same league as VW's automobile brands. Volkswagen named Mark McNabb as the CEO of this company and in his new role, he will make sure that the company achieves its target of selling more than 3 million electric cars in the US alone by 2025.

While McNabb will continue to oversee the diesel settlement program in his new role, VW will be spending up to $25 billion in the U.S. alone to finally put the dieselgate scandal to rest. The $2 billion investment will be made in four $500 million payments over 30 months and initial funding will be pitched to regulators later in the month before the company can begin development.

Volkswagen will also build a 'Green City' in which it will test and develop zero-emissions vehicles but what we know is that the 'Green City' will be based in California. We wait for more details to pour out.

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