Volkswagen Assigns $25 Billion in Battery Orders in Electric Car Drive
Reuters (March 13, Cremer) is reporting that Volkswagen has selected partners to provide battery cells and related technology worth nearly 20 billion euros (US$25 billion) for its growing electric car program. This will ratchet up the pressure on U.S. pioneer Tesla. Until its so-called "dieselgate" emissions scandal was revealed in 2015, Europe's biggest automaker had been slow to embrace electric vehicles. "But the fraud prompted a strategic shift," states the wire service, "while advances in batteries and a global fight against pollution are raising pressure on carmakers to adopt zero-emission alternatives." Volkswagen confirms it has secured battery technology deliveries for both China and Europe and will choose a supplier for North America soon. VW plan is to expand assembly of zero-emission cars from three plants currently to 16 facilities around the globally by the end of 2022.
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