News

VW CEO: Adopting EVs Could Crash Auto Industry

Order Reprints

Oct. 31, 2018—The CEO of the Volkswagen group has shown concerns recently regarding the fallout that the automotive industry might face due to the growing popularity of electric vehicles, especially in Germany.

According to a report by futurecar.com, Volkswagen has been rather supportive of subsidiary Porsche’s venture which promises to electrify the company’s offerings. And, VW has already confirmed and hyped its plans to enter the plug-in hybrid and EV segment.

But the company is also struggling with delays, plan changes, and negativity toward EVs, which is spreading throughout a sizable swath of Europe, according to futurecar.com. In Europe, governments are working on laws that will, in essence, persuade consumers to adopt electric vehicles.

VW has released several reports disclosing its target of producing several EV models by 2025. However, the CEO of Volkswagen Group, Herbert Diess, is said to believe that strict emission laws designed to promote sales of EVs would result in the crash of the current German auto industry.

According to futurecar.com, Diess reasoned that if emission requirements aren’t reduced, the entire German auto industry would crash and nearly 100,000 employees might lose their jobs.

 

Related Articles

Colorado Could See More EVs in Auto Industry Deal

Toyota Chairman Skeptical of Widespread EV Adoption in Near Future

You must login or register in order to post a comment.