VW brand chief not concerned with e-fuels: ‘by 2035, combustion is over’
VW brand chief Thomas Schäfer said that recent discussion over an e-fuel exception to EU’s 2035 gas car ban is “unnecessary noise” and that “by 2035 [combustion engines] are over anyway,” in a recent interview with Automotive News Europe.
The interview mostly covered European topics, such as the availability of Volkswagen’s upcoming EVs in Europe. But the VW executive also spoke forcefully about electrification being a no-brainer.
The EU was recently about to finalize a plan to ban new internal combustion engine cars in 2035 across the bloc, but at the final hour, auto-producing countries, including Germany and Italy, objected. The proposal was slated not to get final approval until Germany made a compromise with the EU Commission, allowing e-fuels as a “climate-neutral” fuel for combustion vehicles.
E-fuels are synthetic fuels that can be produced from captured carbon emissions. They can be considered carbon neutral because those carbon emissions would have been released into the atmosphere, but are captured, turned into fuels, and then burned and… released back into the atmosphere. However, since their use as a fuel did not contribute to increased emissions over what the baseline would have been before their capture, this is why they are considered carbon neutral.
But e-fuels also need a source of carbon to be fueled with, to begin with, and most carbon capture currently happens in oil & gas fields. This carbon is often used to help drill more oil or used in tricky accounting to make firms look carbon-neutral when they aren’t. If carbon reductions from capture get double counted – for example, by the oil company doing the capturing and by the cars that are burning it – then we end up pretending that we’re making more carbon reductions than we actually are.
And they still emit as many harmful air pollutants as fossil fuels, and are therefore still harmful to human health.
It takes energy to make e-fuels as well, and that energy could just be used to fuel an electric car in the first place. Why waste solar and wind resources on converting carbon into fuel, only to burn it and release that carbon into the atmosphere, when you could just charge a car with the electricity from solar and wind in the first place?
And they also perpetuate the combustion engine. An e-fuels exception means that companies can continue making combustion engine cars, convince themselves that they’re carbon neutral, but also sell them in locales without an e-fuel requirement, which still causes just as much global warming. And those global warming emissions affect everyone, whether they happen in Europe or Saudi Arabia.
VW brand chief sees e-fuels as a distraction
So the e-fuel exemption is somewhat of a maintenance of the status quo or “unnecessary noise,” as Schäfer rightly called it:
What you do you think about Germany’s [subsequently successful] bid to modify the 2035 EU combustion engine ban to include cars powered by e-fuels?
Schäfer: That’s unnecessary noise from my point of view. By 2035 [combustion engines] are over anyway. We said by 2033 we’re done. By 2030 we plan that 80 percent of our vehicles sold in Europe are battery electric, so why spend a fortune on old technology that doesn’t really give you any benefit?
Who’s behind the German position? Party politics? VW Group CEO Oliver Blume?
Schäfer: It’s not Mr. Blume behind it. I guarantee that. This discussion around e-fuels is widely misunderstood. They have a role to play in existing fleets, but won’t replace EVs. That’s complete nonsense. Look at the physics of making e-fuels. We don’t have enough energy as it is, so why waste it on e-fuels?
VW has been among those at the forefront of the industry in terms of electrification. Much of its progress happened under former CEO Herbert Diess, who stepped down last year and was replaced by former Porsche CEO Oliver Blume.
There was some question over whether Blume would be as positive about electrification as Diess, who said consumers would be “dumb” to buy one of VW’s gas cars in 2021. But it looks like VW as a brand is at least charging forward with its EV plans, per Schäfer’s comments in this interview. And according to Schäfer, Blume, CEO of Germany’s largest company, apparently was not behind Germany’s push to get the e-fuel exemption into the EU regulations.
Schäfer points out that the e-fuel question is largely irrelevant to VW and should be irrelevant to the industry as a whole. VW is done with combustion engines, EV demand will be high by 2035, and there’s no sense in investing money to improve an inferior, older technology like combustion engines.
He also stated, in an answer about upcoming Euro 7 emissions regulations, that VW “would rather put [its] money into electrification during the final years of the combustion engine than make a final version of it that is prohibitively expensive.” If Euro 7 requires hefty R&D to make gas engines cleaner, why bother spending that money when EVs are already clean?
Electrek’s Take
Clearly, we agree with Schäfer here. Making exemptions to regulations purely to perpetuate combustion engines is folly.
Not only will companies be wasting money developing a dead-end technology (which Daimler, inventor of the combustion engine, stopped doing in 2019), but they’ll be giving up a perfectly good opportunity to electrify now. By wasting focus on dead technology, they only put themselves into a worse long-term position because the future is coming no matter what.
We see this happening in the US as well, as automakers’ current EV commitments aren’t enough in light of new EPA rules. Automakers could respond to these rules by begging for exceptions so they don’t have to follow the rules, or they could increase their commitments in recognition that technology, consumer desires, and the threat of climate change are all advancing quickly.
In the EU, some governments chose the former path, asking for exemptions. But more intelligent brands, like Voltswagen, seem to see the way the tide is changing.
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At least 5 Waymo self-driving I-Pace electric cars were set on fire amid protests that turned violent in Los Angeles this weekend.
It could represent as much as 5% of Waymo’s fleet in Los Angeles being destroyed.
The United States Immigration and Customs Enforcement (ICE) launched several raids in the Los Angeles area last week that triggered large-scale protests across the city over the weekend.
The protests were mostly peaceful and aimed to bring attention to federal agents indiscriminately arresting and detaining people, but in some cases, they were violent clashes with the police.
Things took a turn for the worse with President Trump calling the National Guard.
There have been several instances of rioting, looting, and general property damage.
In a unique case, it appears that one or more rioters purposely called multiple Waymo vehicles to Arcadia and Alameda streets, where they slashed the vehicles’ tires, broke the windows, and wrote anti-ICE messages on them.
At around 5 PM on Sunday, the Waymo vehicles were set on fire:
With the ongoing protests, the fire department couldn’t get access to the vehicles and they eventually completely burned down:
Waymo is believed to be operating a fleet of about 100 self-driving cars in the Los Angeles area. Therefore, a significant percentage of the fleet was burned down today.
The company completes over 120,000 rides per week in California, but it operates a bigger fleet in the Bay Area and covers a big service area than in LA.
Waymo shouldn’t have too many issues replenishing its fleet, considering it recently acquired over 2,000 Jaguar I-Pace electric vehicles to more than double its entire fleet over the next year.
The company currently operates over 1,500 vehicles across San Francisco, Los Angeles, Phoenix, and Austin.
With a high utilization rate, the relatively small fleet has already taken significant market shares of those ride-hailing markets. It is estimated that Waymo accounts for approximately 20% of the ride-hailing market in San Francisco.
The new vehicles are going to enable Waymo to expand into new markets.
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Environment
‘Bitcoin Family’ hides crypto codes etched onto metal cards on four continents after recent kidnappings
The Taihuttus on a ski trip to Sierra Nevada in southern Spain. They sold everything they owned in 2017 to bet on bitcoin — and now travel full-time as a family of five.
Didi Taihuttu
A wave of high-profile kidnappings targeting cryptocurrency executives has rattled the industry — and prompted a quiet security revolution among some of its most visible evangelists.
Didi Taihuttu, patriarch of the so-called “Bitcoin Family,” said he overhauled the family’s entire security setup after a string of threats.
The Taihuttus — who sold everything they owned in 2017, from their house to their shoes, to go all-in on bitcoin when it was trading around $900 — have long lived on the outer edge of crypto ideology. They travel full-time with their three daughters and remain entirely unbanked.
Over the past eight months, he said, the family ditched hardware wallets in favor of a hybrid system: Part analog, part digital, with seed phrases encrypted, split, and stored either through blockchain-based encryption services or hidden across four continents.
“We have changed everything,” Taihuttu told CNBC on a call from Phuket, Thailand. “Even if someone held me at gunpoint, I can’t give them more than what’s on my wallet on my phone. And that’s not a lot.”
CNBC first reported on the family’s unconventional storage system in 2022, when Taihuttu described hiding hardware wallets across multiple continents — in places ranging from rental apartments in Europe to self-storage units in South America.
The Taihuttu family dressed up for Halloween in Phuket, Thailand, where they recently moved homes after receiving disturbing messages pinpointing their location from YouTube videos.
Didi Taihuttu
As physical attacks on crypto holders become more frequent, even they are rethinking their exposure.
This week, Moroccan police arrested a 24-year-old suspected of orchestrating a series of brutal kidnappings targeting crypto executives.
One victim, the father of a crypto millionaire, was allegedly held for days in a house south of Paris — and reportedly had a finger severed during the ordeal.
In a separate case earlier this year, a co-founder of French wallet firm Ledger and his wife were abducted from their home in central France in a ransom scheme that also targeted another Ledger executive.
Last month in New York, authorities said, a 28-year-old Italian tourist was kidnapped and tortured for 17 days in a Manhattan apartment by attackers trying to extract his bitcoin password — shocking him with wires, beating him with a gun, and strapping an Apple AirTag around his neck to track his movements.
The common thread: The pursuit of crypto credentials that enable instant, irreversible transfers of virtual assets.
“It is definitely frightening to see a lot of these kidnappings happen,” said JP Richardson, CEO of crypto wallet company Exodus. He urged users to take security into their own hands by choosing self-custody, storing larger sums on hardware wallets, and — for those holding significant assets — exploring multi-signature wallets, a setup typically used by institutions.
Richardson also recommended spreading funds across different wallet types and avoiding large balances in hot wallets to reduce risk without sacrificing flexibility.
That rising sense of vulnerability is fueling a new demand for physical protection with insurance firms now racing to offer kidnap and ransom (K&R) policies tailored to crypto holders.
But Taihuttu isn’t waiting for corporate solutions. He’s opted for complete decentralization — of not just his finances, but his personal risk profile.
As the family prepares to return to Europe from Thailand, safety has become a constant topic of conversation.
“We’ve been talking about it a lot as a family,” Taihuttu said. “My kids read the news, too — especially that story in France, where the daughter of a CEO was almost kidnapped on the street.”
Now, he said, his daughters are asking difficult questions: What if someone tries to kidnap us? What’s the plan?
One of the steel plates the Taihuttu family uses to store part of their bitcoin seed phrase. Didi etched it by hand using a hammer and letter punch — part of a decentralized storage system spread across four continents.
Didi Taihuttu
Though the girls carry only small amounts of crypto in their personal wallets, the family has decided to avoid France entirely.
“We got a little bit famous in a niche market — but that niche is becoming a really big market now,” Taihuttu said. “And I think we’ll see more and more of these robberies. So yeah, we’re definitely going to skip France.”
Even in Thailand, Taihuttu recently stopped posting travel updates and filming at home after receiving disturbing messages from strangers who claimed to have identified his location from YouTube vlogs.
“We stayed in a very beautiful house for six months — then I started getting emails from people who figured out which house it was. They warned me to be careful, told me not to leave my kids alone,” he said. “So we moved. And now we don’t film anything at all.”
“It’s a strange world at the moment,” he said. “So we’re taking our own precautions — and when it comes to wallets, we’re now completely hardware wallet-less. We don’t use any hardware wallets anymore.”
To throw off would-be attackers, Didi Taihuttu encrypts select words from each 24-word seed phrase — then splits the phrases into four sets of six and hides them around the world.
Didi Taihuttu
The family’s new system involves splitting a single 24-word bitcoin seed phrase — the cryptographic key that unlocks access to their crypto holdings — into four sets of six words, each stored in a different geographic location. Some are kept digitally through blockchain-based encryption platforms, while others are etched by hand into fireproof steel plates using a hammer and letter punch, then hidden in physical locations across four continents.
“Even if someone finds 18 of the 24 words, they can’t do anything,” Taihuttu explained.
On top of that, he’s added a layer of personal encryption, swapping out select words to throw off would-be attackers. The method is simple, but effective.
“You only need to remember which ones you changed,” he said.
Part of the reason for ditching hardware wallets, Taihuttu said, was a growing mistrust of third-party devices. Concerns about backdoors and remote access features — including a controversial update by Ledger in 2023 — prompted the family to abandon physical hardware altogether in favor of encrypted paper and steel backups.
While the family still holds some crypto in “hot” wallets — for daily spending or to run their algorithmic trading strategy — those funds are protected by multi-signature approvals, which require multiple parties to sign off before a transaction can be executed.
The Taihuttus use Safe — formerly Gnosis Safe — for ether and other altcoins, and similarly layered setups for bitcoin stored on centralized platforms like Bybit.
Didi Taihuttu during a recent visit to Sierra Nevada, Spain. The family’s lifestyle — unbanked, nomadic, and all-in on bitcoin — makes them outliers even in the crypto world.
Didi Taihuttu
About 65% of the family’s crypto is locked in cold storage across four continents — a decentralized system Taihuttu prefers to centralized vaults like the Swiss Alps bunker used by Coinbase-owned Xapo. Those facilities may offer physical protection and inheritance services, but Taihuttu said they require too much trust.
“What happens if one of those companies goes bankrupt? Will I still have access?” he said. “You’re putting your capital back in someone else’s hands.”
Instead, Taihuttu holds his own keys — hidden across the globe. He can top up the wallets remotely with new deposits, but accessing them would require at least one international trip, depending on which fragments of the seed phrase are needed. The funds, he added, are intended as a long-term pension to be accessed only if bitcoin hits $1 million — a milestone he’s targeting for 2033.
The shift toward multiparty protections extends beyond just multi-signature. Multi-party computation, or MPC, is gaining traction as a more advanced security model.
Didi, Romaine, and their three daughters live largely off-grid, managing crypto through decentralized exchanges, algorithmic trading bots, and a globally distributed cold storage system.
Didi Taihuttu
Instead of storing private keys in one place — a vulnerability known as a “single point of compromise” — MPC splits a key into encrypted shares distributed across multiple parties. Transactions can only go through when a threshold number of those parties approve, sharply reducing the risk of theft or unauthorized access.
Multi-signature wallets require several parties to approve a transaction. MPC takes that further by cryptographically splitting the private key itself, ensuring that no single individual ever holds the full key — not even their own complete share.
The shift comes amid renewed scrutiny of centralized crypto platforms like Coinbase, which recently disclosed a data breach affecting tens of thousands of customers.
Taihuttu, for his part, says 80% of his trading now happens on decentralized exchanges like Apex — a peer-to-peer platform that allows users to set buy and sell orders without relinquishing custody of their funds, marking a return to crypto’s original ethos.
While he declined to reveal his total holdings, Taihuttu did share his goal for the current bull cycle: a $100 million net worth, with 60% still held in bitcoin. The rest is a mix of ether, layer-1 tokens like solana, link, sui, and a growing number of AI and education-focused startups — including his own platform offering blockchain and life-skills courses for kids.
Lately, he’s also considering stepping back from the spotlight.
“It’s really my passion to create content. It’s really what I love to do every day,” he said. “But if it’s not safe anymore for my daughters … I really need to think about them.”
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