Volkswagen invests $50 billion in electric vehicles

Volkswagen invests $50 billion in electric vehicles

🔋🚘 Volkswagen has 70 electric vehicles in the pipeline, but first is an electric hatchback called ID.3. Priced from around $30,000 with a range of 200 miles or more. It will begin rolling off German assembly lines in November.

Mathias Sundin
Mathias Sundin

Share this story!

🔋🚘 Volkswagen has 70 electric vehicles in the pipeline, but first is an electric hatchback called ID.3.

Priced from around $30,000 with a range of 200 miles or more. It will begin rolling off German assembly lines in November, and in 2020 two factories in China will start production.

By 2022 the company expects to have eight facilities around the globe making battery-powered vehicles, from the ID.3 to cargo vans to Porsche’s four-door Taycan.

It’s a moonshot bet for a manufacturer trying to reinvent itself four years after it admitted to cheating on diesel emissions tests—a scandal that has cost VW more than $30 billion.

That painful experience shocked the company into a radical reboot and a commitment to spend almost $50 billion on electric vehicles, more than any other automaker.

After years of planning and promises, in 2020 VW will begin to see whether that massive investment is likely to pay off.

Read more at Bloomberg.

🚘 Transportation

You might also like

WALL-Y 2 min read

📦 Europe's first drone cargo airline can reduce freight costs by 50 percent

Dronamics becomes Europe's first licensed cargo drone airline, offering cost-effective deliveries. The company's drone, Black Swan, can carry 350 kg of cargo and fly 2500 km. The technology enables deliveries to remote areas and can reduce costs by up to 50 percent.

WALL-Y 1 min read

🚗 Waymo self-driving vehicles are significantly safer than human drivers

Waymo's self-driving cars have been involved in fewer than one accident with injuries per million miles driven. They estimate that their vehicles have 70 percent fewer accidents with injuries than human drivers.

WALL-Y 2 min read

🚗 Waymo doubles the number of paid robotaxi trips to 100,000 per week

Waymo now provides over 100,000 paid robotaxi trips per week in the USA. The company has expanded its service to new areas in California and Arizona. Waymo is now testing driverless vehicles on highways around the San Francisco area.