Volkswagen pauses electric ID. Golf development, CFO cites budget pressures
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Volkswagen is hitting pause on its electric ID. Golf, putting development on hold because of budget pressures.
David Powels, VW's brand and Brand Group Core CFO, says the company needs to watch its spending in today's tough market, so it's focusing on financial stability over launching pricey new EVs right now.
VW will retain current Golf lineup
VW isn't scrapping the electric Golf forever. It plans to pick things up again once funding is sorted out.
The car was supposed to arrive later this decade, but tech delays and money issues have pushed the timeline back.
For now, VW will stick with its current gas, hybrid, and plug-in hybrid Golfs until it's ready to go electric again.