VW Plans to Be Battery Juggernaut in $29 Billion Answer to Tesla
Bloomberg 3/15/2021 Christoph Rauwald
(Bloomberg) Volkswagen AG is stepping up efforts to unseat Tesla Inc. as the dominant electric-car maker with a plan to build six battery factories in Europe and invest globally in charging stations.
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VW already has agreements for two battery plants and is exploring four additional sites for a total capacity of 240 gigawatt-hours by the end of the decade, it said Monday. The push will cost some $29 billion and would make VW and its partners the world’s second-largest cell producer after China’s Contemporary Amperex Technology Co. Ltd., according to BloombergNEF.
VW ramps up electric plans as it looks to topple Tesla
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Volkswagen is stepping up its game to become the worldâs biggest electric-car maker with a plan to build six battery factories in Europe and global investments in charging stations.
The manufacturer, which already has agreements for two sites, is exploring options for another four plants for a total capacity of 240 gigawatt-hours by the end of the decade, VW said in a statement. VW has the most comprehensive EV plan in the industry thatâll add about 50 purely battery-powered vehicles to its lineup by 2030.
VW Plans Europe s Biggest Battery Push | Transport Topics ttnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ttnews.com Daily Mail and Mail on Sunday newspapers.
VW and BMW’s car-charging venture plots Europe expansion Source: By Elisabeth Behrmann and William Wilkes, Bloomberg • Posted: Wednesday, March 3, 2021
A venture formed by Volkswagen AG, BMW AG and other automakers is in talks to substantially expand its European electric-car charging network to keep pace with rising sales of battery-powered vehicles.
The manufacturers are considering additional funding for their Ionity GmbH consortium, which has been building out fast-charging points along European highways since 2017, emulating Tesla Inc.’s Supercharger network. After EV sales tripled in the region last year, the companies fear long lines at charging points could put off potential buyers.
The manufacturers are considering additional funding for their Ionity GmbH consortium, which has been building out fast-charging points along European highways since 2017, emulating Tesla’s Supercharger network