Volkswagen Launches $50B EV Race To Challenge Tesla

Posted by Tsvetana Paraskova

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One of the world’s largest carmakers, Germany’s Volkswagen AG, is betting big on electric vehicles and e-mobility with a war chest of around US$50 billion to challenge Tesla, which, for the time being seems unfazed by the increasingly crowded EV market.

Three years after the diesel emissions scandal, Volkswagen said last November that it would invest US$49.7 billion (44 billion euro) on e-mobility, autonomous driving, new mobility services, and digitalization in…Click here for full article.

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