08 Mar '12, 3pm

Volkswagen commits to US$52 billion in green investments

German automaker Volkswagen aims to drop the average emissions from its new vehicles to 120 grams CO2/km by 2015, as part of a "fundamental ecological restructuring" likely to be worth more than €40 billion (US$52 billion by 2016. The company says more than two thirds of its entire €62.4 billion (US$82.1 billion) investment programme for the coming five years will be directly or indirectly spent on "ever more efficient vehicles, powertrains and technologies, as well as environmentally compatible production." VW has been looking to bolster its green reputation since being targeted by campaign group Greenpeace over its alleged lobbying against deeper cuts to EU emissions targets. The company's new emissions reduction target would represent a 30 percent cut on 2006 levels for Europe's largest carmaker, and a sizeable reduction on its current average emissions for new vehicles...

Full article: http://www.greenbiz.com/news/2012/03/08/volkswagen-commit...

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