Volkswagen plans to build 50 Million Electric Cars

Volkswagen AG (VWAPY) plans to build 50 million electric vehicles (EVs) within the next few years. In particular, VW claims to have enough batteries to power 50 million EVs.

“We have bought batteries for 50 million vehicles,” Volkswagen chief executive Herbert Diess supposedly claims.The German language publication Automobilwoche reported the claim. Unfortunately, I have not located an English language translation of that interview.

Unfortunately, news reports did not say where Volkswagen is getting the batteries. However, Electrek reports that Volkswagen’s battery factory in Braunschweig or Brunswick, can produce 500,000 battery packs for electric vehicles a year. Thus, Volkswagen is already beating Tesla at its own game.

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Daimler, Bosch and NVIDIA team up for Robot Taxi

Predictably, up to 25 companies signed onto NVIDIA’s robot taxi effort, a press release indicates. The organizations in NVIDIA’s driverless taxi effort range from startups like NuTonomy and Yandex to the world’s oldest automaker; Daimler, and Volkswagen (ETR: VOW3) one of the world’s largest automakers.

The market for driverless taxis will be huge if Bosch, Daimler, and NVIDIA can get them to work. Even if regulators refuse to allow robot taxis on the streets, the technology will have many other uses.

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Tesla, Audi Prove That Electric Car Is Viable

Basically, electric cars are not only competitive with fossil fuel-powered vehicles, they exceed them, which means electricity could be the fuel of choice for the auto industry within a few years. The only thing keeping electric vehicles from being widely adopted is cost, which should fall as production increases.

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