logo
VW's New EV Platform Still Supports Combustion Engines

VW's New EV Platform Still Supports Combustion Engines

Motor 120 hours ago

It's been a little over four years since Volkswagen announced SSP, its all-encompassing electric vehicle architecture. The Scalable Systems Platform was originally expected to be ready by now, but it has been delayed until later this decade. Multiple reports from German media attributed the setback to VW's software division, Cariad. However, the automotive conglomerate is now ready to discuss SSP, and there's a surprise.
Although SSP is primarily an electric platform, it will also support combustion engines. VW Group plans to introduce range extenders, with internal combustion engines functioning solely as generators to charge the battery. Like the BMW i3,
Mazda's rotary MX-30
, and the upcoming Ramcharger, these engines won't have a mechanical link to the wheels. Nissan's e-Power technology follows a similar principle: the gasoline engine powers the battery, not the drivetrain.
Photo by: Volkswagen
Volkswagen had already indicated its interest in range extenders. Its newly established Scout brand will launch a pickup and an SUV equipped with
naturally aspirated ICE generators
. In China, the recently unveiled
ID. Era concept
previews a three-row SUV developed with SAIC, also featuring a gasoline-powered generator.
SSP is a major initiative for VW. It will serve as the foundation for models across all its brands and will eventually replace all existing electric platforms. A teaser image shows five different body styles, ranging from a city hatchback to a large SUV.
Automotive News
reports that there will be eight derivatives in total, covering every segment of the market. Next-generation EVs based on SSP are expected to begin rolling out in 2026, likely debuting in China before arriving in Europe a year later.
We may not see this technology in Europe, where VW CEO Thomas Schäfer believes plug-in hybrids are the more viable option. He told
Autocar
that range extenders are expensive to engineer, while today's plug-in hybrids already offer decent electric range and fast charging. According to Schäfer, offering both solutions wouldn't be economically feasible.
Photo by: Volkswagen
One of the most significant models to use the SSP platform will be the ninth-generation, electric-only Golf. It's scheduled to arrive near the end of the decade and will coexist with the
combustion-engine Mk8
for several years. VW may keep the
current Golf on sale until the mid-2030s
. The electric Golf will be built in Wolfsburg, while production of the ICE model will move to the Puebla plant in Mexico in 2027.
With SSP's key specifications now finalized, VW Group CEO Oliver Blume stated: 'We aim to be the global technology driver for the automotive industry. SSP will play a crucial role in this. We've reached an important milestone in developing our electric future platform. Now it's full steam ahead to implementation.'
Catch Up With VW:
Volkswagen Is Making Less Money Because It's Selling More EVs
Volkswagen Could Give Ford More Reskinned Cars
Get the best news, reviews, columns, and more delivered straight to your inbox, daily.
back
Sign up
For more information, read our
Privacy Policy
and
Terms of Use
.
Source:
Volkswagen Group
Share this Story
Facebook
X
LinkedIn
Flipboard
Reddit
WhatsApp
E-Mail
Got a tip for us? Email:
tips@motor1.com
Join the conversation
(
)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Investing £5k of savings can generate a passive income of…
Investing £5k of savings can generate a passive income of…

Yahoo

time21 minutes ago

  • Yahoo

Investing £5k of savings can generate a passive income of…

Buying dividend shares is a rapid and simple way to start earning a passive income. As with every investment, there are risks involved. But such threats can be managed through prudent decision-making and portfolio diversification. And when done well, the subsequent income stream can be quite lucrative, especially in the long run. So let's say an investor has £5,000 of capital sitting in a savings account. How much passive income can this money generate overnight and over the long term? The amount generated depends on which dividend stocks an investor decides to buy. Most tend to stick with simple index tracker funds. And right now, the FTSE 100 index offers a respectable 3.4% yield. That means, overnight, a £5,000 could generate a passive income of £170 a year. Obviously, that's not a groundbreaking sum, especially since many savings accounts offer similar returns right now at much lower levels of risk. However, there's also capital gains to take into consideration. And when combined with the dividend yield, the FTSE 100's historically generated close to an 8% annualised return for investors. Let's assume this trend continues over the next decade. What does this mean for an investor's passive income if they decide to reinvest any dividends between now and 2035? Without any additional capital, the original £5,000 will have grown to around £11,100. And if the yield's still 3.4%, that means the passive income stream will reach £377.40. That's a notable improvement. But what if we can do even better? Instead of relying on an index fund, investors can take matters into their own hands and invest in individual stocks directly. And right now, there are plenty of FTSE 100 constituents offering significantly higher yields. Take Aviva (LSE:AV.) as an example to consider. Today, the insurance giant already offers a more impressive payout with a 5.9% yield. So a £5,000 investment would instantly unlock an annual passive income of £295. But those who hopped on the bandwagon just five years ago are already earning considerably more. Following the appointment of CEO Dame Amanda Blanc in 2020, the company has undergone a significant transformation. It divested its non-core business ventures, raising over £8bn while simultaneously streamlining operations. Pairing this increase in efficiency with boosted activity within the annuity market, courtesy of higher interest rates, shareholders have been immensely rewarded. The Aviva share price has more than doubled, turning a £5,000 investment into £10,400. And at the same time, dividends were hiked by an average of 18% a year, turning an already substantial 5.3% yield at the time into a 12.2% payout. As such, a £5,000 initial investment in 2019 is now generating a passive income of £1,268.80. Sadly, Aviva shares aren't guaranteed to replicate this success between now and 2030. The company's still attempting to digest its £3.7bn acquisition of Direct Line Group. And with the UK government flirting with new mandates to force pension funds to invest more in UK assets, compliance-related costs of evolving regulation could create new headaches that impede performance. Nevertheless, Aviva serves as a good example of how stock picking opens the door to potentially superior returns in the long run. The post Investing £5k of savings can generate a passive income of… appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Zaven Boyrazian has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025

Reform declares war on all gold-plated public sector pensions
Reform declares war on all gold-plated public sector pensions

Yahoo

time26 minutes ago

  • Yahoo

Reform declares war on all gold-plated public sector pensions

A Reform UK government would radically overhaul gold-plated public sector pensions to stop them bankrupting Britain. Richard Tice told The Telegraph he would put everything on the table and end the taxpayer 'rip off' if his party won the next general election. Reform's deputy leader said the party would consider moving all public sector employees out of their 'Rolls-Royce' pension plans and into the defined contribution schemes almost all private sector workers have. Britain currently hands £54bn a year to public sector retirees and another £35bn in pension contributions to current state workers, with both groups entitled to guaranteed, inflation-linked payments for life. It comes after Reform pledged to axe defined benefit council pensions, which a recent Telegraph investigation revealed now costs some local authorities more than half of what they raise in council tax. Britain currently has more than three million public sector pensioners, the vast majority of whom are retired NHS workers, teachers, civil servants and members of the armed forces. Their schemes are all unfunded, meaning the contributions that come in from employers and employees are immediately used to pay current retirees, rather than being prudently invested to pay future pensions. However, contributions have fallen short of the amounts paid out, with taxpayers funding a £49bn shortfall over the past decade alone. Historically, they also haven't covered the cost of new pension rights built up by current workers. John Ralfe, a pensions consultant, calculated that the shortfall between contributions and future pensions was £208bn between 2013-23 – and it will be met by current and future taxpayers. The system, which would be illegal in the private sector, has built up pension liabilities running into the trillions. Speaking to The Telegraph, Mr Tice said action was needed where successive governments had failed. He said: 'We've got to have these conversations over the next few years and wake people up as to why we're in such a financial mess. Public sector pay and benefits have soared and yet productivity has collapsed, and it's a catastrophe. 'I want to be honest with the country. I want to say, 'if we don't sort this out, this will be a major factor in the country going bankrupt'. It's that serious.' He also confirmed that Reform would consider moving every public sector worker into the type of defined contribution schemes that almost all private sector workers are members of. He added: 'Everything has got to be on the table. The old rule was that public pay was less than the private sector because they had a more generous pension scheme, but successive governments have lifted pay in the public sector and therefore the old deal is no longer valid. 'Bluntly, there's been a failure to be honest about this. The public sector has pulled the wool over the eyes of the taxpayer. We're going to talk about it for the next four years: that taxpayers are being ripped off and it can't go on.' Last week, Mr Tice said that Reform-controlled councils would stop offering the generous pension scheme to new employees and reduce pay rises for existing workers to balance out the cost of funding their retirements. The Local Government Pension Scheme, the largest funded scheme in the UK, already spends £15bn a year on paying pensions across Britain. A recent Telegraph investigation uncovered five local authorities that stuff more than half of their council tax into staff pension pots. Another 19 fork out more than a third, while 60 spend more than a fifth on funding the generous schemes. It came after a series of Telegraph revelations about the cost of public sector pensions. Last year, we calculated that Britain's current bill was £4.9 trillion, with each household on the hook for £173,000. In October, we reported that another £20bn would be added to taxpayer-funded pension payouts after they rose another 1.7pc following September's inflation figure. Last month, we showed how the latest public sector pay rise would cost another £1bn in pension contributions alone. We also revealed how taxpayers have been handed extra pension bills of £45bn for Royal Mail, £1.7bn for the Environment Agency and more than £300m for retired train drivers. Switching public sector workers to defined contribution pensions could send the taxpayer's annual bill plummeting to around £4.5bn, saving almost £28bn a year, calculations have shown. However, Barry McKay, of pensions firm Barnett Waddingham, warned it would be difficult to make the change. He said: 'If you move to defined contribution, those contributions paid by existing workers would go into a pot somewhere to be invested and grow for the benefit of each worker, but in doing so there would be no money coming in to pay existing pensions. 'The Treasury would have to find a huge amount of money to pay the existing pensioners from somewhere else, because they don't have the contribution income any more. That leaves a massive hole in the Treasury accounts.' He added: 'There is a problem that we're effectively stuck with defined benefit.' Neil Record, a pensions expert and former Bank of England economist, said: 'The only practical solution to public sector pensions' increasingly intolerable burden on taxpayers is for the Government to offer a cash alternative, as an option, to all public sector employees. 'My guess is that in return for an approximately 30pc pay rise, most public sector employees would choose to give up accruing new pension rights as long as their existing rights were fully honoured.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.

How the Vatican manages money and where Pope Leo XIV might find more
How the Vatican manages money and where Pope Leo XIV might find more

Yahoo

time41 minutes ago

  • Yahoo

How the Vatican manages money and where Pope Leo XIV might find more

VATICAN CITY (AP) — The world's smallest country has a big budget problem. The Vatican doesn't tax its residents or issue bonds. It primarily finances the Catholic Church's central government through donations that have been plunging, ticket sales for the Vatican Museums, as well as income from investments and an underperforming real estate portfolio. The last year the Holy See published a consolidated budget, in 2022, it projected 770 million euros ($878 million), with the bulk paying for embassies around the world and Vatican media operations. In recent years, it hasn't been able to cover costs. That leaves Pope Leo XIV facing challenges to drum up the funds needed to pull his city-state out of the red. Withering donations Anyone can donate money to the Vatican, but the regular sources come in two main forms. Canon law requires bishops around the world to pay an annual fee, with amounts varying and at bishops' discretion 'according to the resources of their dioceses.' U.S. bishops contributed over one-third of the $22 million (19.3 million euros) collected annually under the provision from 2021-2023, according to Vatican data. The other main source of annual donations is more well-known to ordinary Catholics: Peter's Pence, a special collection usually taken on the last Sunday of June. From 2021-2023, individual Catholics in the U.S. gave an average $27 million (23.7 million euros) to Peter's Pence, more than half the global total. American generosity hasn't prevented overall Peter's Pence contributions from cratering. After hitting a high of $101 million (88.6 million euros) in 2006, contributions hovered around $75 million (66.8 million euros) during the 2010's then tanked to $47 million (41.2 million euros) during the first year of the COVID-19 pandemic, when many churches were closed. Donations remained low in the following years, amid revelations of the Vatican's bungled investment in a London property, a former Harrod's warehouse that it hoped to develop into luxury apartments. The scandal and ensuing trial confirmed that the vast majority of Peter's Pence contributions had funded the Holy See's budgetary shortfalls, not papal charity initiatives as many parishioners had been led to believe. Peter's Pence donations rose slightly in 2023 and Vatican officials expect more growth going forward, in part because there has traditionally been a bump immediately after papal elections. New donors The Vatican bank and the city state's governorate, which controls the museums, also make annual contributions to the pope. As recently as a decade ago, the bank gave the pope around 55 million euros ($62.7 million) a year to help with the budget. But the amounts have dwindled; the bank gave nothing specifically to the pope in 2023, despite registering a net profit of 30 million euros ($34.2 million), according to its financial statements. The governorate's giving has likewise dropped off. Some Vatican officials ask how the Holy See can credibly ask donors to be more generous when its own institutions are holding back. Leo will need to attract donations from outside the U.S., no small task given the different culture of philanthropy, said the Rev. Robert Gahl, director of the Church Management Program at Catholic University of America's business school. He noted that in Europe there is much less of a tradition (and tax advantage) of individual philanthropy, with corporations and government entities doing most of the donating or allocating designated tax dollars. Even more important is leaving behind the 'mendicant mentality' of fundraising to address a particular problem, and instead encouraging Catholics to invest in the church as a project, he said. Speaking right after Leo's installation ceremony in St. Peter's Square, which drew around 200,000 people, Gahl asked: 'Don't you think there were a lot of people there that would have loved to contribute to that and to the pontificate?' In the U.S., donation baskets are passed around at every Sunday Mass. Not so at the Vatican. Untapped real estate The Vatican has 4,249 properties in Italy and 1,200 more in London, Paris, Geneva and Lausanne, Switzerland. Only about one-fifth are rented at fair market value, according to the annual report from the APSA patrimony office, which manages them. Some 70% generate no income because they house Vatican or other church offices; the remaining 10% are rented at reduced rents to Vatican employees. In 2023, these properties only generated 35 million euros ($39.9 million) in profit. Financial analysts have long identified such undervalued real estate as a source of potential revenue. But Ward Fitzgerald, the president of the U.S.-based Papal Foundation, which finances papal charities, said the Vatican should also be willing to sell properties, especially those too expensive to maintain. Many bishops are wrestling with similar downsizing questions as the number of church-going Catholics in parts of the U.S. and Europe shrinks and once-full churches stand empty. Toward that end, the Vatican recently sold the property housing its embassy in Tokyo's high-end Sanbancho neighborhood, near the Imperial Palace, to a developer building a 13-story apartment complex, according to the Kensetsu News trade journal. Yet there has long been institutional reluctance to part with even money-losing properties. Witness the Vatican announcement in 2021 that the cash-strapped Fatebenefratelli Catholic hospital in Rome, run by a religious order, would not be sold. Pope Francis simultaneously created a Vatican fundraising foundation to keep it and other Catholic hospitals afloat. 'They have to come to grips with the fact that they own so much real estate that is not serving the mission of the church,' said Fitzgerald, who built a career in real estate private equity. ___ AP reporter Mari Yamaguchi in Tokyo contributed. ___ Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store