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2 months ago

Volkswagen to Expand and Focus on EVs

Volkswagen ($VWAGY@Germany), the European automotive giant, has announced plans to expand its operations and turn its focus to electric vehicles. The EV market is booming with new companies popping up every year and giants like Tesla ($TSLA@US) holding a huge market share. As part of VW’s plans, it will expand its Chattanooga operation to work on the ID. Buzz microbus. The company plans to grow its North American market share with the move, committing more than $7 billion over the next 5 years to the process, with plans to add 25 new electric vehicles by 2030. At press time, Volkswagen stock was trading near $22 per share, up more than half a percent in early activity.
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