'VW still has a long road ahead to repair its reputation among car shoppers' 'VW will act as a type of clearinghouse for the electric automotive industry' % There might be a lot of VW donor cars available that would make good conversions %
http://dailycaller.com/2016/06/28/vw-settlement-forces-company-to-shovel-billions-into-electric-vehicle-industry/ VW Settlement Forces Company To Shovel Billions Into Electric Vehicle Industry 06/28/2016 Chris White [image] Volkswagen CEO Matthias Mueller attends the annual news conference in Wolfsburg, Germany, April 28, 2016. REUTERS/Fabrizio Bensch Volkswagen CEO Matthias Mueller attends the annual news conference in Wolfsburg, Germany, April 28, 2016. REUTERS/Fabrizio Bensch The $14.7 billion settlement Volkswagen must pay to atone for last year’s emission cheating scandal includes a $2 billion investment in technology devoted to producing electric vehicles. VW’s fuel emission cheating scandal will cost a total of $14.7 billion, $10 billion of which will go to the owners of the tainted vehicles, while another $2.7 billion to the Environmental Protection Agency for environmental mitigation. The company will plow another $2 billion investment into electric vehicle technology, which will be distributed within the next decade. The payments will be dolled out to various plaintiffs, such as the state of New York, which will use $115 million for environmental projects to improve air quality, and another $30 million to the state’s general fund. “Make no mistake: we will continue to investigate and pursue Volkswagen for its violation of our environmental laws, and we will seek the imposition of additional penalties in amounts sufficient to ensure that Volkswagen and any other car manufacturer complies with the standards required of them,” said New York Attorney General Eric Schneiderman. Schneiderman has made hay recently for investigations against oil producer Exxon Mobil over allegations the company withheld information from the public about global warming. Auto industry analysts noted Tuesday that VW appears ready to sink a great deal of money from the settlement into electric vehicles. “This massive financial hit won’t magically make VW’s troubles disappear overnight, and it still has a long road ahead to repair its reputation among car shoppers,” Jessica Caldwell, director of industry analysis for auto pricing firm Edmunds, told reporters. She added: “The company got a head start earlier this month by announcing a long-term commitment to electrification, but it will be a long time before shoppers will trust VW as an environmentally friendly brand.” The $2 billion settlement adds another layer of credibility to the contention that VW will act as a type of clearinghouse for the electric automotive industry. VW CEO Matthias Mueller, for instance, said at the company’s annual conference in April that fixing the tainted diesel power vehicles will remain the company’s top objective. After that, he told the conference, the company will start building 20 new electric vehicle models by 2020 — the move will “make electric cars one of Volkswagen’s new hallmarks,” according to Mueller. A report from German newspaper in February indicated the EPA requested the company begin producing electric vehicles in Tennessee as just one way it could make up for the scandal. The agency also asked the company to construct thousands of charging stations throughout the U.S. [© dailycaller.com] ... http://www.reuters.com/article/us-volkswagen-emissions-usa-idUSKCN0VU0JA ... EPA was asking VW to produce electric vehicles at its plant in Chattanooga, Tennessee, and to help build a network of charging stations for electric vehicles in the United States ... ... http://www.timesfreepress.com/news/business/aroundregion/story/2016/jun/28/vw-chattanooga-may-see-some-2-billion-spending/373468/ Haslam hopes Chattanooga gets VW settlement's $2 billion for zero-emissions technology June 28th, 2016 NASHVILLE — Gov. Bill Haslam says he has "strong hopes" of seeing Volkswagen's Chattanooga operation get some of the $2 billion in spending on zero-emissions technology required under the auto manufacturer's far-reaching settlements with the federal government, car owners and dozens of states ... http://seekingalpha.com/article/3984976-gm-nissan-send-thank-letters-volkswagen-adios-tesla GM And Nissan Send Thank You Letters To Volkswagen: Adios, Tesla Jun.28.16 Summary -Volkswagen to spend $2 billion to build a competitor to Tesla’s Supercharger network in the U.S. -This removes Tesla's single most important competitive advantage in electric cars. -This capital investment also includes a hydrogen fueling network for fuel-cell cars. -GM and Nissan are the main near-term beneficiaries of this giant gift from Volkswagen. -Toyota, Hyundai, Honda and Mercedes also send Volkswagen thank-you letters for funding the hydrogen car future ... Here is the relevant document [ http://www.arb.ca.gov/newsrel/newsrelease.php?id=834 ]. And here is the relevant section: The Consent Decree also requires Volkswagen to invest $800 million dollars in ZEV infrastructure and access over a 10-year period in California. Volkswagen will be installing zero-emission vehicle fueling infrastructure (for both electric and hydrogen-powered cars), funding consumer awareness campaigns to increase the zero-emission vehicle market, and investing in projects such as car-sharing programs that will increase access to zero-emission vehicles for all consumers in California. These brand-neutral projects will support the next generation of zero-emission vehicles that will be sold in California, helping to grow the state's burgeoning ZEV program, and will help lay the zero-emissions foundation for achieving the State's air quality and climate goals. Under the terms of the settlement, Volkswagen will submit ZEV investment plans every 30 months, covering $200 million dollars in investments in each plan, until the full funding level is expended. ARB will provide comments and approve each plan after those comments are addressed. Under the broader national settlement, Volkswagen will be investing an additional $1.2 billion under the settlement's National ZEV investment requirement through the other states for similar projects that support the transition to zero-emission vehicles in areas of the U.S. outside California ... [© 2016 Seeking Alpha] [OT http://www.vox.com/2016/6/28/12050664/volkswagen-billion-settlement-lawsuits Volkswagen will buy back its “cheating” US diesel cars and more ... June 28, 2016 ... a huge shift into electric cars, introducing up to 30 plug-in models by 2025 ... ... http://www.cnet.com/roadshow/news/dieselgate-what-the-faq-do-i-do/ Dieselgate: What the FAQ do I do? June 28, 2016 ... options? ... have VW buy back your car ... or wait for a fix for your car ... The program isn't expected to start until October ... ... http://www.mensjournal.com/gear/articles/how-to-get-your-10000-from-volkswagen-w211630 How to Get Your $10000 From Volkswagen June 28, 2016 ... “Electric cars have similar torque properties ...” If you are looking for an electric car that can get up and go at a red light, Lindland suggests ... ] For EVLN EV-newswire posts use: http://evdl.org/evln/ {brucedp.150m.com} -- View this message in context: http://electric-vehicle-discussion-list.413529.n4.nabble.com/2B-of-the-14-7B-EPA-settlement-will-go-toward-VW-s-2020-EVs-EVSE-tp4682790.html Sent from the Electric Vehicle Discussion List mailing list archive at Nabble.com. _______________________________________________ UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub http://lists.evdl.org/listinfo.cgi/ev-evdl.org Read EVAngel's EV News at http://evdl.org/evln/ Please discuss EV drag racing at NEDRA (http://groups.yahoo.com/group/NEDRA)
