U.S. markets close in 4 hours 36 minutes
  • S&P 500

    4,445.02
    -3.96 (-0.09%)
     
  • Dow 30

    34,727.96
    -36.86 (-0.11%)
     
  • Nasdaq

    14,991.77
    -60.48 (-0.40%)
     
  • Russell 2000

    2,255.03
    -4.01 (-0.18%)
     
  • Crude Oil

    73.76
    +0.46 (+0.63%)
     
  • Gold

    1,752.80
    +3.00 (+0.17%)
     
  • Silver

    22.43
    -0.25 (-1.10%)
     
  • EUR/USD

    1.1714
    -0.0033 (-0.28%)
     
  • 10-Yr Bond

    1.4540
    +0.0440 (+3.12%)
     
  • GBP/USD

    1.3669
    -0.0052 (-0.38%)
     
  • USD/JPY

    110.7010
    +0.4000 (+0.36%)
     
  • BTC-USD

    42,256.89
    -1,788.60 (-4.06%)
     
  • CMC Crypto 200

    1,049.70
    -53.36 (-4.84%)
     
  • FTSE 100

    7,059.97
    -18.38 (-0.26%)
     
  • Nikkei 225

    30,248.81
    +609.41 (+2.06%)
     

Volkswagen to set up venture capital fund in decarbonization push

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Sept 7 (Reuters) - Volkswagen AG 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 https://bit.ly/38NnhyZ 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.

In a bid to make battery-powered cars affordable for the masses and younger generations, Volkswagen on Monday unveiled a fully electric small car, ID LIFE, to be launched in 2025. (https://reut.rs/3DZh0yO)

($1 = 0.8447 euros) (Reporting by Sahil Shaw in Bengaluru; Editing by Amy Caren Daniel)