Thursday, July 22, 2010

Volkswagen aims to conquer green market with electric VW Golf TNR.v, TSLA, CZX.v, RM.v, LIT.v, CLQ.v, WLC.v, LI.v, GM, F, HEV, AONE, GOOG, AAPL, RTP,

"This is what we need to address dire consequences of Peak Oil. There is still time and technology available to us to electrify our transportation system. Electric cars are coming on the roads and Asian conglomerates are busy building Supply Chain for Electric Cars starting with lithium deposits. Will US Corp. finally awaken to this geopolitical problem?"

A hybrid version of the VW golf will be one of the first models in the new green range

Everybody is rushing to remind about their EV models in electric space these days. Just last few days we saw announcements from Honda, Hyundai and now Volswagen. Obama must has been driven all other automakers jealous sitting in GM Volt.

Volkswagen aims to conquer green market with electric VW Golf
Volkswagen will aim to conquer the green market with a new generation of hybrid and electric cars, the company has announced.

By Heidi Blake

The VW Golf or the Up! city-car will be launched as an all-electric vehicle in the US by 2013 under the new plans. The Touareg sport-utility vehicle will go on the market as a petrol-electric hybrid later this year, followed by a Jetta hybrid in 2011.

The low-carbon cars will account for three per cent of the German manufacturer’s sales by 2018, according to Martin Winterkorn, the chief executive.

“Our goal is clear and ambitious,” he said on Monday at the company’s research laboratory in Palo Alto, California. “Volkswagen will be the automaker to mass produce the electric car for everyone.”

Volkswagen is Europe’s largest carmaker and spends more than 5 billion euros (£4.25bn) a year on research and development.

But competition for domination in the green market is fierce. Honda, the Japanese carmaker, announced plans on Monday to launch a hybrid version of its Civic compact powered by lithium-ion batteries within a year. An all-electric car will be on sale by 2012, Honda said.

General Motors plans to build 10,000 units of its new Chevrolet Volt electric car next year, and Nissan Motor Co. will begin selling its all-electric Leaf compact.

Toyota bought a $50 million (£33m) stake in Tesla, which sells the all-electric Roadster sportscar, in May and the carmakers plan to cooperate on developing battery-powered cars."
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