Volkswagen Doubles EV Battery Order To $48 Billion
May 4th, 2018Via: Fortune:
A few hours after Elon Musk berated analysts for what he perceived as unimaginative questions, Volkswagen AG said it was writing a check for batteries that almost match Tesla’s entire market value.
VW has awarded battery-purchasing contracts worth 40 billion euros ($48 billion), double from just a few weeks ago. The deals take the German manufacturer within striking distance of a sought-for 50 billion-euro total. By 2025, VW plans to sell as many as 3 million all-electric cars per year, Chief Executive Officer Herbert Diess told investors Thursday at the annual shareholder meeting in Berlin.
