VW Paying for Diesel Scandal with $300M in Charging Stations
Volkswagon's Electrify America is starting construction in Q2 2017 and hopes to complete charging stations in 11 markets and major highways by 2019.
CNET ROAD SHOW
By Andrew Krok
When Volkswagen agreed to a landmark $15 billion settlement in the wake of its diesel malfeasance, part of that settlement involved promoting the use of next-gen propulsion technology. Now, we're seeing it start to pan out.
Electrify America, a wholly owned subsidiary of Volkswagen Group of America, is set to invest $300 million in a network of electric-vehicle chargers. It hopes to create hundreds of stations with "non-proprietary" chargers in 11 different urban markets, including stations along popular highway corridors. It's the first stage of a deployment meant to boost demand for electric vehicles.
"Electrify America aims to establish one of the largest, most technically advanced and customer-friendly charging networks in the US," said Mark McNabb, CEO of Electrify America, in a statement. "Our investments will make it easier and faster for millions of Americans to charge their electric vehicles while encouraging more drivers to explore and embrace electric driving."