The company will aim to install more than 500 charging stations nationwide.
In an effort to satisfy its settlement with the U.S. Environmental Protection Agency, VW has announced the introduction of Electrify America. The new subsidiary will manage more than $2 billion worth of investment into zero-emission vehicle infrastructure and awareness programs over the next decade.
The company has a plan in place to install more than 500 charging stations nationwide, with more than 300 of those stations located in 15 metro areas around the country. It will also develop a high-speed, cross-country network consisting of more than 200 stations.
Part of the effort will also include a plan to sell more than three million electric cars in the U.S. by 2025, and a "Green City" in which testing and development of zero-emissions vehicles and infrastructure will take place. The proposed "Green City" would be located in California, and include things like a ZEV-based shuttle service and an EV car-sharing program, just to name a few.
The investment into VW's new green movement will be made in four $500 million payments ever 30 months, and must get approval from the California Air Resources Board and the EPA beforehand. Final submissions for the plans for initial funding will be pitched to regulators later in the month before the company can begin development.
The new company will be based in Reston, Virginia, and will remain separate from VW’s automobile brands. Longtime VW staff member Mark McNabb has been named CEO, and will continue to oversee the diesel settlement program in his new role.
All said and done, VW will spend up to $25 billion in the U.S. alone to finally put the Dieselgate scandal to rest and move forward in the development of electric vehicles.