Tag Archives: rival carmaker


VW embarks on $50 billion electrification plan

11 November, 2018 8:52 am 8:52 am

WOLFSBURG, Germany (Reuters) – Volkswagen expects to become the most profitable manufacturer of electric cars thanks to a multi-billion euro expansion plan to mass produce battery driven vehicles, Chief Executive Herbert Diess said. VW will spend almost 44 billion euros ($50 billion) on developing electric cars, autonomous driving and new mobility services by 2023 and … Read More