VW To Create Electric Microbus

Volkswagen Group announced this week that it is currently planning to do a remake of its old microbus on its vehicle lineup. However, the vehicle will be remade in an electric version this time but will still feature the well-known bug-eyed bus that has been known by the masses for the past years.

The iconic car which will be released as an electric vehicle by 2022 in the United State, in Europe, and in China was revealed earlier this year at the company’s Detroit Auto Show. According to Volkswagen Chairman of the Board of Management Dr. Herbert Diess, the concept of the I.D. is the most beautiful and most exciting electric car in the world. The company also expects the fully electric vehicle to become a bestseller all over the world stating that the electric era’s iconic car must come from the company.

This will directly compete with American electric automobile maker Tesla whose market share has been growing at a fast rate recently due to the reception of its vehicles particularly the recent release of their affordable Model 3 vehicle. Although Tesla is only available in a few countries, it has been recently expanding its efforts to increase its presence in different markets.

Volkswagen is currently in the middle of an ongoing settlement with numerous regulators regarding the emission cheating scandal a few years ago. The scandal has already cost the company $56 billion of their market value. The company has also agreed earlier this year to pay $1.2 billion worth of buybacks to the affected customers.

The company has also recalled more than 11 million diesel 2015 VW and Audis as a part of their settlement deal with both regulators and affected customers.  The company also assured the public then that it is in possession of a technology and program that allowed them to control or deactivate pollution control.

By the end of last month, the company was still in the process of supposedly updating this program with over four million vehicles in Germany alone reportedly being affected with releasing harmful emissions. The update prevented the company from permanently being banned from operating in countries outside Germany.  It has also stated that it will update over 12 million vehicles all over the world in their efforts to avoid any issue in the future.

Last Friday, in the midst of the ongoing proceedings, Federal prosecutors have sentenced Volkswagen engineer James Liang for reportedly contributing to the emissions test scandal three years in prison. According to prosecutors, the said engineer has plead guilty in misleading regulators. Liang is known for having almost three decades of experience in the company. Other Volkswagen executives and even the company itself have also pleaded guilty to the federal court in connection to the scandal and has faced specific fines and charges.

Follow us for more up to date and latest stock market news and join the best forex broker.

Courses Video

Best Brokers Promotion


Refer a friend bonuses available


100% welcome Bonus


100% Bonus and 20% Bonus


100% deposit bonus


Deposit bonus up to $500,  Zero fees on deposit and withdrawals