Posted by Big Gav in electric vehicles
BNEF reports that the US EPA has required VW to build EV charging infrastructure as part of their settlement for cheating on vehicle emissions tests - VW subsidiary invests $2 billion to promote electric cars.
Volkswagen AG has formed a new subsidiary to manage the $2 billion it is required to spend over the next decade in support of zero-emission vehicles in the U.S.
The company, Electrify America LLC, will invest in the construction and maintenance of electric vehicle charging stations, including a “high-speed, cross-country” network of more than 200 fast-charging stations for electric cars. It will also install more than 300 chargers in 15 U.S. metropolitan areas and fund “brand-neutral” advertising campaigns to promote awareness about electric cars, among other activities, the company announced Tuesday.
VW agreed to spend the money on infrastructure and other projects to promote the adoption of zero-emission vehicles as part of a legal settlement with the U.S. Environmental Protection Agency stemming from the company’s cheating on emissions tests for its diesel cars.