Volkswagen AG (VOWG.DE) said on Tuesday it planned to set up a venture capital fund, which would initially invest 300 million euros ($355.14 million) in decarbonization projects and start-ups.
“Decarbonization will make many things more affordable, not more expensive,” Herbert Diess, chief executive officer of Volkswagen, said in a LinkedIn post, adding that reducing carbon dioxide is possible without sacrificing the standard of living.
“Carbon capturing to remove the CO2 is feasible, but not yet on scale and it is still very expensive,” Diess added.
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.