Volkswagen says it will develop no more gas-powered cars after 2026

|By:, SA News Editor

Volkswagen (OTCPK:VLKAF) says it will develop its final generation of vehicles using combustion engine technology in 2026, and focus instead on electric cars.

“In the year 2026 will be the last product start on a combustion engine platform,” strategy chief Michael Jost said today at an automotive conference at VW’s headquarters in Wolfsburg, Germany.

VW will continue to adapt its petrol and diesel engined cars to meet environmental standards during the lifetime of those vehicles, but the company is now committed to radical steps to stop global warming, Jost said.

Separately, VW CEO Herbert Diess said after a meeting at the White House that the company was building an alliance with Ford (NYSE:F) and could use the U.S. automaker’s plants to build cars.

"We are in quite advanced negotiations and dialog with Ford Corporation to really build up a global automotive alliance, which also would strengthen the American automotive industry," Diess said.

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