World-renowned vehicle manufacturing company, Volkswagen on Tuesday just announced a U.S subsidiary that would see to its $2 billion investment in zero emission vehicular infrastructures and an awareness program stretching over a decade as part of a court settlement due to their excessive diesel emissions.
VW, is said to also launch an initiative titled Green City, at a yet-to-be announced Californian city, to steer in accordance future concepts including a would-be ZEV-based shuttle service, an EV-based car sharing program or a ZEV transit program, according to media reports.
The company will make four $500 million investments every 30 months and must get approval from the California Air Resources Board and the U.S. Environmental Protection Agency for spending.
VW must submit draft plans to regulators on the first funding plan by Feb. 22.
The Electrify America unit, based in Reston, Virginia, is an entirely owned sister company of Volkswagen Group of America and is separate from Volkswagen AG's automobile brands.
The German automaker's settlement on excess diesel emissions from nearly 600,000 U.S. vehicles requires that $800 million be spent in California and $1.2 billion be invested throughout the rest of the United States.
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