Technology 

Volkswagen to spend 44 billion euros on electric, autonomous cars by 2023

WOLFSBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) on Friday said it will spend 44 billion euros on electric cars, digitalization, autonomous driving and new mobility services by 2023 as part of a push by Europe’s largest carmaker to mass produce electric cars. The carmaker also plans to increase productivity of its factories by 30 percent by 2025, by building more vehicles with different brands on the same production line, it said. This will help lower the carmaker’s capital expenditure ratio at the group’s automotive division to six percent of revenues from…

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Technology 

VW says could build up to 15 million electric cars

FILE PHOTO: The logo of Volkswagen is seen at their plant in Wolfsburg, Germany, April 12, 2018. REUTERS/Fabian Bimmer/File Photo FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) could build up to 15 million electric cars over several years on its new electric vehicle production platform, the company said on Friday, adding that its Chief Executive Herbert Diess had misspoken in an interview on Monday. Automotive News on Monday quoted Diess as saying that VW could build 50 million electric vehicles globally across its brands, beginning in 2020, and had battery sourcing agreements…

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Technology 

Volkswagen expects to be the most profitable maker of electric cars

WOLFSBURG, Germany (Reuters) – Volkswagen (VOWG_p.DE) Chief Executive Herbert Diess on Friday said he expected the multi-brand carmaking group to be the most profitable manufacturer of electric cars thanks to economies of scale. Even first generation vehicles, which start rolling off production lines next year, are expected to make a positive contribution to Volkswagen Group’s automotive margin, Diess said. Diess further said the management board would make a strategic decision about the future of its autonomous driving program in the first quarter of next year. Ford and Volkwagen are in…

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Technology 

Silicon eyed as way to boost electric car battery potential

(Reuters) – The race to build a better electric car battery is turning to silicon, with several companies working to engineer types of the material that can boost driving range and cut production costs. About 500,000 electric vehicles (EVs) were sold globally in 2016, a figure that is expected to jump sevenfold by 2022, according to the U.S. Energy Information Administration. That increase is forecast to be helped by government mandates to cut tailpipe emissions by banning gasoline and diesel-powered cars. But many drivers have so far been put off…

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Technology 

VW to convert three German plants to build electric cars

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) will convert three German factories to build electric cars, as Europe’s largest automaker by sales starts mass producing zero-emission vehicles in a major strategy shift following its emissions cheating scandal. FILE PHOTO: A visitor takes pictures of Volkswagen’s I.D. Vizzion model car displayed during a media preview of the Auto China 2018 motor show in Beijing, China April 25, 2018. REUTERS/Damir Sagolj/File Photo The German company said on Wednesday its plant in Emden, which currently builds the VW Passat, would build electric cars from 2022…

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VW could build up to 50 million electric cars: Automotive News

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) could build up to 50 million electric cars on its new electric vehicle platform and is looking at expanding its manufacturing footprint in the United States, Chief Executive Herbert Diess told Automotive News. FILE PHOTO: Herbert Diess, Volkswagen’s new CEO, poses during the Volkswagen Group’s annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt/File Photo “We set up the plant in Chattanooga always with the idea to be able to grow it, to mirror it,” Diess was quoted as saying. “The plant is…

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Technology 

ChargePoint gives Europe equal billing in electric car grid plan

LISBON (Reuters) – ChargePoint, which operates one of the world’s largest charging station grids for electric vehicles, expects to split a major expansion plan equally between Europe and its home market the United States, its chief executive said. Pasquale Romano, Chief Executive Officer of ChargePoint, attends an interview with Reuters during the Websummit in Lisbon, Portugal November 7, 2018. REUTERS/Rafael Marchante The company said in September it was aiming for 2.5 million charging points globally by 2025 and CEO Pasquale Romano told Reuters at the Web Summit conference in Lisbon…

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Paris region to launch world’s biggest fleet of electric bicycles

PARIS (Reuters) – The Paris region plans to launch a large fleet of electric bicycles in a state-funded scheme aimed at getting commuters to cycle to work and reducing congestion and pollution. FILE PHOTO – A sign marking a parking place for bicycles is seen in Strasbourg, France June 27, 2018. REUTERS/Vincent Kessler From September 2019, regional transport agency Ile-de-France Mobilités (IDFM) will provide up to 10,000 e-bikes for long-term rental, with a view to expanding the scheme to 20,000, which would make it the world’s largest e-bike rental program.…

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VW plans to sell electric Tesla rival for less than $23,000: source

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE) intends to sell electric cars for less than 20,000 euros ($22,836) and protect German jobs by converting three factories to make Tesla (TSLA.O) rivals, a source familiar with the plans said. VW and other carmakers are struggling to adapt quickly enough to stringent rules introduced after the carmaker was found to have cheated diesel emissions tests, with its chief executive Herbert Diess warning last month that Germany’s auto industry faces extinction. Plans for VW’s electric car, known as “MEB entry” and with a production volume…

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Brazil homebuilder to offer Renault electric cars in buildings

SAO PAULO (Reuters) – Latin America’s largest homebuilder, MRV Engenharia e Participacoes SA (MRVE3.SA), is partnering with the Brazilian unit of French automaker Renault SA (RENA.PA) to offer electric car sharing in its buildings. Co-Chief Executive Officer Rafael Menin said in a Thursday statement that the pilot program was part of the Brazilian homebuilder’s energy efficiency initiatives. The homebuilder aims to offer solar energy panels included in all of its new housing by 2022. In the first phase of the electric car program, two Renault Zoe vehicles will be offered…

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