The Strategist

Volkswagen to invest €40M in renewable energy


04/30/2021 - 03:00



German carmaker Volkswagen has unveiled a plan to reduce its emissions and improve the overall sustainability of its business.



pixabay
pixabay
The company has promised that by 2050 it will become fully carbon-neutral, i.e. reduce its overall greenhouse gas emissions to zero. By 2030, at least 70% of Volkswagen cars in Europe and 50% in China and the US will be electric. This should reduce emissions in Europe by 40%, to 17 tonnes of CO2 per car.

The company has also unveiled plans to switch to renewable energy sources. By 2030, electricity at Volkswagen plants in Europe, North America and South America will come from renewable sources. Among the more concrete plans are investments in solar and wind power projects in Europe to reach €40 million by 2025. 

Volkswagen has already concluded an agreement with German energy company RWE: the carmaker will participate in the creation of a solar power plant in Germany, which is to produce 170 million kWh of electricity from 2022.

In recent months, a number of automakers, including General Motors, Volvo, Jaguar and Porsche, have unveiled plans to switch to exclusively electric vehicles in the next 5-15 years and expand their use of renewable energy sources.

source: bloomberg.com




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