VW announces massive $84 billion investment in electric cars and batteries
https://electrek.co/2017/09/11/vw-massive-billion-investment-in-electric-cars-and-batteries/
Volkswagen after announcing an initial investment of $10 billion in EVs earlier this year, which was still smaller than the German automaker’s investments in gas-powered cars, they now promise to spend up to 70 billion euros (~$84 billion USD) in order to bring 300 electric vehicle models to market by 2030.
More interestingly, most of the investment 50 billion euros (~$60 billion) will be in battery production in order to support their electric car ambitions for the next decade. The injection of 50 billion euros (~$60 billion) to support a battery supply chain for VW’s electric cars should shake up the industry and prepare for a rapid expansion of battery production over the next few years.
