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ING

VW unveils $60bn batteries investment plan

Tue, 09/12/2017 - 11:41 -- News Editor
VW unveils $60bn batteries investment plan

Volkswagen has announced plans to invest more than EUR50 billion ($60bn) in battery cells and related technology, towards the electrification of its entire model portfolio by 2030 "at the latest".

CEO Matthias Mueller (pictured) said the group has already launched a global tender process to find manufacturing partners in China, Europe and North America— as VW will “need more than 150GWh of lithium-ion battery capacity annually by 2025 for its own e-fleet alone”.

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EVs will be only new cars sold in Europe from 2035 - report

Wed, 07/26/2017 - 15:39 -- News Editor
EVs will be only new cars sold in Europe from 2035 - report

Only electric passenger cars will be sold in Europe from 2035 as a result of falling battery costs, economies of scale and increased support from governments, according to a new study by Dutch banking group ING.

According to the ‘Breakthrough of electric vehicle threatens European car industry’ report, compiled by ING senior economists Max Erich and Jurjen Witteveen, issues currently overshadowing electric vehicles (EVs) – such as range anxiety and pricing – “will be overcome within the next seven years.

 

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