Volkswagen plans to invest about 40 million euros ($48 million) in European wind and solar projects by 2025 as part of a push to become carbon neutral.
As part of the initiative, Volkswagen will team up with Germany’s top utility RWE for a solar park in 2022 that will have a capacity to supply 50,000 households with power.
The VW brand intends to be net carbon neutral by 2050 at the latest, its CEO, Ralf Brandstaetter, said in a statement on Thursday.
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