Volkswagen’s $91B spend on EVs outpaces investment of rivals

f Volkswagen Group realizes its ambition of becoming the global leader in electric cars, it will be because of a radical and risky bet born out of the biggest calamity in its history.

VW has staked its future, to the tune of 80 billion euros ($91 billion), on being able to profitably mass-produce electric vehicles — a feat no automaker has come close to achieving.

So far, mainstream automakers’ electric plans have had one main goal: to protect profits gleaned from high-margin conventional cars by adding enough zero-emissions vehicles to their fleet to meet clean-air rules.

Customers have meanwhile largely shunned EVs because they are too expensive, can be inconvenient to charge and lack range.